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Brand Updates From Galaxy Cinemas when UA Cinemas Leaves Business

Multiscreen movies in the Galaxy Macau casino resort have turned the brand of “galaxy movies” from its former name of “UA Galaxy cinemas” and have been liquidated by UA Cinemas, a Hong Kong movie chain. Macau is operated by Galaxy Entertainment Group Ltd singapore online casino, a licensee of Macau. The branding update (image) was made public on the official website of the resort and on the Facebook account of the movie theatre.

A comment from Galaxy Entertainment, sent on Tuesday in answer to our inquiry to noted that since the opening of the movie theatre the multiscreen cinema “has been run by Galaxy Macau. The casino company added “the ultimate cinematographic experience with state-of-the-art 3D imaging and the ground-breaking laser projector 4K.

Case oppose 

The resort promoter Galaxy Entertainment Group AG reported to the GGRAsia that UA Galaxy Cinemas sg online casino, the multi-screen cinema in Galaxy Macau’s casino resort, operates in the normal way. On Monday, the UA Cinemas brand in neighbouring Hong Kong said it was “immediately successful” and was in a closing process through Hong Kong courts. Galaxy Entertainment said in an emailed reply to GGRAsia on Monday, “UA Galaxy Cinemas functions as normal.

The UA Cinema brand in Hong Kong announced on Monday that it will stop dealing in the Hong Kong area because of the ‘inevitable and crippling strain’ that has been facing it since the outbreak of the Covid 19 pandemic. In Macao, Galaxy Cinemas in Galaxy Macao had been closed since late January last year, with virus containment and social distance initiatives being implemented and resumed operations in September 28.

Closure 

From 5 February to 1 March last year, the Macau government had only ordered the closing of all cinemas in the capital online casino 12joker, but UA Galaxy Cinema has decided to stop it any longer. In the UA Cinemas brand in Hong Kong, the South China Morning Post announced that the UA Cinemas brand had been shut down for more than 100 days last year because of the Covid-19 counter-measures by the city government.

Despite a ‘incident’ the company revealed this year on the stock exchange for the ‘lack fund of roughly KRW 14.56 billion [USD 12.9 million],’ which had been reduced by 2020, was also indicated by the Jeju Shinhwa World game operation.

Review the event 

In alert about 2020 earnings, the group stated: “When the review of the event is continuing, the organisation also remains in a position to determine its recoverable sum and final amount recognised as a loss for the year as at the date of this announcement in its consolidated financial statements. In mid-January, Jeju police said that about KRW 12 billion of cash was retrieved from what was believed to form part of the lost funds from Landing International, the news agency Yonhap announced at the time.

Such loss, according to the 2019 audited annual results presented to the Hong Kong Börse in May of 2019, was just over HKD2.1 billion (US$274.5 million).

The Company has built and operates a world resort Jeju Shinhwa, and a related gambling facility, Landing Casino in South Korea, on Jeju Island. The Firm also stated that it planned to “slightly cut combined sales in approximately 3%” by the full year 2020 in a Thursday submission on the Hong Kong bourse.