Clairvest Reports Fiscal 2026 Second Quarter Results

Core Insights - Clairvest Group Inc. reported a net loss of $76.8 million for the second quarter of fiscal 2026, primarily due to a full provision for its investment in Head Digital Works, which faced adverse regulatory changes [2][8] - The company's book value decreased to $1,154 million or $83.92 per share as of September 30, 2025, down from $1,260 million or $88.94 per share as of June 30, 2025 [2][8] - Clairvest announced an agreement to acquire MGM Northfield Park for US$546 million, with expected equity investment of approximately US$165 million from Clairvest and its partners [5][8] Financial Performance - For the quarter ended September 30, 2025, Clairvest's net loss was $76.8 million, translating to $5.43 per share, largely due to a $127 million provision on the investment in Head Digital Works [3][8] - The net loss for the six months ended September 30, 2025, was $55.4 million or $3.91 per share, with a net increase of $35 million in the valuation of other private equity investments [3][8] - As of September 30, 2025, total cash and cash equivalents amounted to $263 million, representing 23% of the book value [4][8] Investment Strategy - The company plans to focus its investments in North America following negative experiences with international investments, emphasizing the importance of diversification and disciplined investing [6][8] - The acquisition of MGM Northfield Park will mark Clairvest's 14th land-based gaming investment, building on a successful track record in the sector [6][8]