{"id":98,"date":"2024-06-14T04:06:34","date_gmt":"2024-06-14T01:06:34","guid":{"rendered":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/14\/new-century-entertainment-sees-steep-decline-in-earnings-due-to-covid-19\/"},"modified":"2024-06-17T13:01:41","modified_gmt":"2024-06-17T10:01:41","slug":"new-century-entertainment-sees-steep-decline-in-earnings-due-to-covid-19","status":"publish","type":"post","link":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/14\/new-century-entertainment-sees-steep-decline-in-earnings-due-to-covid-19\/","title":{"rendered":"New Century Entertainment Sees Steep Decline in Earnings Due to COVID-19"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/76VuB5Zcd9Y\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Hong Kong-based casino enterprise, New Century Entertainment, experienced a steep 71% decline in annual earnings, reaching a mere HK$20 million (approximately US$2.55 million) for the fiscal year concluding March 31, 2022. This significant decrease from HK$70 million the prior year was primarily attributed to the COVID-19 outbreak and the subsequent shuttering of all gaming establishments in Cambodia, where the firm operates, commencing April 1, 2020.<\/p>\n<p>In spite of these challenges, the organization successfully diminished its net deficit from HK$43 million in 2021 to HK$3.7 million in 2022. Loss per share also contracted considerably, from HK$33.53 to HK$2.87. Nevertheless, the group&#8217;s overall liabilities saw a slight uptick to HK$26.7 million from HK$23 million the preceding year.<\/p>\n<p>Looking towards the future, New Century Entertainment conveyed guarded hopefulness, highlighting the global travel sector&#8217;s gradual rebound towards pre-pandemic figures, notwithstanding fresh surges of infections in numerous nations. The company perceives 2022 as a new beginning and intends to prioritize bolstering its fundamental competitiveness, closely observing market patterns and the COVID-19 landscape to propel sustained expansion. <\/p>\n<p>The collective is depending on an economic rise and some shifts in the gambling sector to assist in getting their expansion back on course.  Their aspiration is that simplifying their processes and seizing fresh prospects in the next twelve months will be the solution. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong-based casino enterprise, New Century Entertainment, experienced a steep 71% decline in annual earnings, reaching a mere HK$20 million (approximately US$2.55 million) for the fiscal year concluding March 31, 2022. This significant decrease from HK$70 million the prior year was primarily attributed to the COVID-19 outbreak and the subsequent shuttering of all gaming establishments [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Century Entertainment Hit Hard: Cambodia Casino Closures Slash Earnings<\/title>\n<meta name=\"description\" content=\"Did the pandemic decimate earnings? 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