Those losses after providing income tax and non-controlling interests were just under $9.94 million, compared with $3.52 million a year earlier.
Shortly before Monday's filing of results, Silver Heritage said it was on that day that it stopped trading its shares on the Australian Stock Exchange and that trading would only resume this Wednesday at the earliest.
In comments included in the filing of the results, the company said it was "currently in the process of raising capital and the details are still being finalized."
"When capital raising is complete, debt amortization and repayment premium payments to OCP at the end of the year will not risk default," Silver Heritage added, referring to bond holder OCP Asia. "Additional funds are for working capital requirements while Tiger Palace Resort is still at an increasing stage."
The total fair value of the bonds issued as of June 30 was just over US$16.9 million, with an interest rate of 8% per annum (the interest rate payable semi-annually), the filing said. They can be repaid by bondholders at a "repayment price that will grant them an internal rate of return equal to 15% per annum on the principal of the original bond at any time before the expiration date," the filing added.
Tiger Palace, whose revised capital budget was A$70.3 million ($50.6 million), began operating games in December.
The specific factor behind the extended losses was "no longer capitalized on additional interest expenses after the completion of construction of the Tiger Palace resort," according to a filing with the stock exchange on Monday.
The first-half loss included $1.18 million in impairment for unused electronic game console software licenses supplied by Inspired Gaming Group Ltd and Betstone Ltd as Silver Heritage withdrew from Laos' machine rental business.
Nevertheless, the group's half-year sales were just under $11.28 million, up 40.2% from $8.04 million a year earlier. That was attributed to Tiger Palace's contribution in 2018.
The company said it shifted from first-half losses to "positive" in July and August outside the reporting period in terms of adjusted earnings before interest, taxation, depreciation and amortization (EBITDA).
Tiger Palace's share of group revenue in the first half of the year was less than $2.8 million, with real estate EBITDA in negative territory of roughly the same amount.
There was a "gradual" increase in revenue at the group-run Phoenix International Club in Bac Ninh, Vietnam, the filing added.
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