Macau satellite casino promoter Emperor Entertainment Hotel Ltd reported an interim profit attributable to its owners of HKD11.8 million (US$1.5 million) for the six months to September 30. The figure compared with a net loss of HKD155.7 million in the prior-year period.
Revenue for the reporting period rose by 242.5 percent year-on-year, to HKD371.8 million, stated the company in a Tuesday filing to the Hong Kong Stock Exchange.
The firm runs casino venue the Grand Emperor Hotel (pictured) in downtown Macau. The casino is promoted under the licence of gaming concessionaire SJM Holdings Ltd.
Emperor Entertainment operates a second hotel in Macau, called Inn Hotel, but that property does not have gaming facilities. The group also has hotel operations and serviced-apartment business in Hong Kong.
Emperor Entertainment’s adjusted segmental earnings before interest, taxation, depreciation, and amortisation were HKD81.1 million in the six months to September 30, an improvement on the HKD105.7-million negative result a year earlier.
Gaming revenue rose by 784.4 percent year-on-year, to HKD215.6 million. Hotel revenue – including from Hong Kong operations – for the period was HKD133.2 million, up 84.6 percent from a year ago.
Emperor Entertainment ceased running gaming operations at Grand Emperor Hotel on June 26 last year. SJM Holdings firm took over running of the casino from June 27 to December 31.
Casino operations resumed at the start of the year on a satellite basis at the Grand Emperor Hotel, according to its promoter.
Feb 22, 2024Deleveraging “will take time” for some of the Macau casino operators, “despite the improvements” in the sector’s business outlook, said Fitch Ratings Inc in a Wednesday memo, offering some...
Gaming revenue grossed by the U.S. commercial land-based gaming industry in 2023, according to data by the American Gaming Association