But the company recorded a net loss, including revaluation items, for the six months ended June 30 of HK$614 million, plunging from a net profit of HK$284 million a year ago.

The loss was mainly due to a writedown of HK$313 million in respect to interests in its associates. Loss per share was 50.08 HK cents. No interim dividend was declared.

The company's Macau gaming business, operated through Nasdaq-listed Melco Crown Entertainment Ltd, saw a major turnaround, contributing a first-half profit of HK$131 million, compared to a HK$298 million loss a year ago.

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Melco International believes Macau's gaming industry will remain steady even if the global economy and visa restrictions on mainland tourists to Macau show negative impact.

"The industry will see more reasonable growth than the 50 percent growth in the first half," said chairman and chief executive Lawrence Ho Yau-lung. "Our company expects the industry to grow about 10 percent to 15 percent annually in the next few years."

Melco shares closed yesterday at HK$4.55, down 2.57 percent.