Smartkarma AI, Smartkarma

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Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Equity Bottom-Up

International Entertainment / Equity Bottom-Up

<ul>
 <li>
<a href="https://smartkarma.com/entities/international-entertainment">International Entertainment</a> is undergoing a high-stakes transformation, marked by explosive revenue growth driven by its Philippine hotel and gaming operations. However, this growth is coupled with severe and widening net losses and significant cash burn, raising concerns about its path to profitability.</li>
 <li>The company is making a significant capital investment to acquire and renovate a casino in Manila, transitioning from a hotel operator and equipment lessor to a fully integrated resort operator. This move hinges on the continued growth of the Philippine gaming market and the company's ability to manage a large-scale development.</li>
 <li>Extreme financial distress, evidenced by collapsing margins, negative cash flows, and a history of profit warnings, presents a high-risk profile. The company's future viability is dependent on a successful operational turnaround and its ability to generate profit from its rapidly growing revenue base.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
International Entertainment is undergoing a high-stakes transformation, marked by explosive revenue growth driven by its Philippine hotel and gaming operations. However, this growth is coupled with severe and widening net losses and significant cash burn, raising concerns about its path to profitability.
  The company is making a significant capital investment to acquire and renovate a casino in Manila, transitioning from a hotel operator and equipment lessor to a fully integrated resort operator. This move hinges on the continued growth of the Philippine gaming market and the company's ability to manage a large-scale development.
  Extreme financial distress, evidenced by collapsing margins, negative cash flows, and a history of profit warnings, presents a high-risk profile. The company's future viability is dependent on a successful operational turnaround and its ability to generate profit from its rapidly growing revenue base.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: International Entertainment (1009 HK) - Nov 2025

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

The Hong Kong government announced a new ad valorem stamp duty, or AVD, late on Nov. 4. Effective Nov. 5, except for first-time homebuyers who are Hong Kong residents, homebuyers are subjected to a new AVD of 15%. Thus, Hong Kong residents who are not first-time homebuyers are subject to an AVD of 15%, replacing a previous AVD scale ranging from 1.5% to 8.5%. Nonresidents are subject to the new AVD of 15% in addition to an existing Buyer’s Stamp Duty, or BSD, of 15%. First-time homebuyers who are Hong Kong residents are subject to an AVD ranging from 0% to 4.25% based on the existing scale, unchanged from before.We believe <a href="https://www.smartkarma.com/entities/111" target="_blank" data-smartkarma-citation="entities:111:1">Sun Hung Kai Properties (16 HK)</a>, or SHKP, is going to be most affected, given its large exposure to residential properties as well as its status as a proxy for the sector. We believe <a href="https://www.smartkarma.com/entities/22650" target="_blank" data-smartkarma-citation="entities:22650:1">Cheung Kong Property Holding (1113 HK)</a>, or CKP, should be less affected, as it has aggressively sold down its residential inventories, while being very selective in land acquisitions in recent years. For both <a href="https://www.smartkarma.com/entities/376" target="_blank" data-smartkarma-citation="entities:376:1">Henderson Land Development (12 HK)</a> and <a href="https://www.smartkarma.com/entities/3320" target="_blank" data-smartkarma-citation="entities:3320:1">Kerry Properties Ltd (683 HK)</a>, the impact on our fair value estimates is expected to be minor.Analyst: Phillip Zhong

The Hong Kong government announced a new ad valorem stamp duty, or AVD, late on Nov. 4. Effective Nov. 5, except for first-time homebuyers who are Hong Kong residents, homebuyers are subjected to a new AVD of 15%. Thus, Hong Kong residents who are not first-time homebuyers are subject to an AVD of 15%, replacing a previous AVD scale ranging from 1.5% to 8.5%. Nonresidents are subject to the new AVD of 15% in addition to an existing Buyer’s Stamp Duty, or BSD, of 15%. First-time homebuyers who are Hong Kong residents are subject to an AVD ranging from 0% to 4.25% based on the existing scale, unchanged from before.We believe Sun Hung Kai Properties (16 HK), or SHKP, is going to be most affected, given its large exposure to residential properties as well as its status as a proxy for the sector. We believe Cheung Kong Property Holding (1113 HK), or CKP, should be less affected, as it has aggressively sold down its residential inventories, while being very selective in land acquisitions in recent years. For both Henderson Land Development (12 HK) and Kerry Properties Ltd (683 HK), the impact on our fair value estimates is expected to be minor.Analyst: Phillip Zhong

New Stamp Duty Negative on Transaction Volume in the NearTerm

Hong Kong

International Entertainment Corporation principal activities of the Company its subsidiaries are hotel operations, and leasing of properties for casino and ancillary leisure and entertainment operations.

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International Entertainment (1009 HK)

Primer: International Entertainment (1009 HK) - Nov 2025

International Entertainment is undergoing a high-stakes transformation, marked by explosive revenue growth driven by its Philippine hotel and...

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New Stamp Duty Negative on Transaction Volume in the NearTerm

The Hong Kong government announced a new ad valorem stamp duty, or AVD, late on Nov. 4. Effective Nov. 5, except for first-time homebuyers who are...

Morningstar, Inc.

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