Neptune junket delays annual report (again) on missing info

The Neptune Group, one of Macau’s leading casino junket operators, has further delayed the release of its 2015-16 annual report as it struggles to collect outstanding gambling debts.

On October 3, Neptune suspended trading in its shares on the Hong Kong Stock Exchange (HKSE) while alerting investors that it had failed to publish its report for the 12 months ending June 30 by the September 30 deadline because some of the info was unavailable.

On Friday, Neptune informed the HKSE that it hoped to publish its annual report by November 30. In the meantime, it is maintaining the suspension of trading in Neptune shares on the HKSE “until further notice.”

Neptune says it has identified outstanding receivables totaling HKD 471m (US $60.7m) the company is owed from junket promotion profit streams. The company says it arrived at this figure after booking an impairment loss of HKD 117.3m through the six months ending December 31, 2015.