Despite an increase in equity, Imperial Pacific International (CNMI) LLC reports a 32-percent dip in profits compared to figures from calendar year 2016.<\/p>\n
According to a report to the Hong Kong Stock Exchange, IPI net profits for 2017 amount to $82.9 million, a 32-percent dip from 2016, which yielded a profit of over $121.6 million.<\/p>\n
\u201cThe drop of profit is mainly attributable to increase in impairment losses of trade receivables, operating, and administrative expenses incurred during the year,\u201d IPI reported.<\/p>\n
Contrary to the less net profit made, IPI displayed a substantial increase in annual gross revenue. The Hong Kong-based company reports that gross revenue for 2017 from continuing operations amount to over $1.7 billion, a 75-percent increase from 2016\u2019s $973.5 million. <\/p>\n
IPI in their report noted majority of their gross revenue is derived from their VIP gaming operations. For 2017 alone, VIP gaming operations yielded $1.65 billion while the company raked in $929.9 million in 2016 gross revenue.<\/p>\n
Less commission, IPI net revenues for 2017 amount to over $1.06 billion, double of 2016\u2019s $529.4 million.<\/p>\n
Mass table gaming operations for 2017 yielded over $39.9 million and $34 million for 2017 and 2016, respectively, indicating a 15.57-percent increase. Slot machines and electronic gaming machines yielded $8.64 million and $7.4 million for 2017 and 2016, respectively, which is a 16.69- percent increase. Food and beverage operations yielded $7.4 million and $5.1 million for 2017 and 2016 respectively\u2014a 36.76-percent increase.<\/p>\n
IPI gross profits for 2017 more than doubles that of 2016. The company reported $902.6 million and $418.2 million in gross profits for 2017 and 2016 respectively, amounting to a massive 115.83-percent increase.<\/p>\n
According to the IPI report, the company\u2019s equity increased 34.67 percent. From January 2017\u2019s $371.9 million to December 2017\u2019s $500.9 million. IPI in January 2016 had a total equity of $227.2 million. IPI total equity since January 2016 more than doubled at the start of 2018 with an increase of 120.48 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Despite an increase in equity, Imperial Pacific International (CNMI) LLC reports a 32-percent dip in…<\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[94],"tags":[42,12497,4139],"class_list":["post-273487","post","type-post","status-publish","format-standard","hentry","category-headlines","tag-food","tag-ipi","tag-vip"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/273487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=273487"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/273487\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=273487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=273487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=273487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}