MelcoLot narrows Q1-Q3 net loss to HK$25.9 mln

2015/11/11

From:Macau Business

Mainland sports lottery operator MelcoLot Ltd’s net loss decreased to HK$25.9 million (about US$3.32 million) in the first nine months of this year from HK$57.5 million in the corresponding period last year.

MelcoLot told the Hong Kong Stock Exchange that lower employee benefit costs and finance costs had reduced the loss.

The company’s revenue from the sale of lottery terminals and parts fell by 9.5 per cent to HK$28.6 million, but its revenue from running lotteries rose by 91 per cent to HK$5.4 million.

The announcement said the mainland lottery market would “remain challenging due to continued changing of the regulatory framework by Chinese authorities”.

Copyright@Macau Business