Macau satellite casino promoter Emperor Entertainment Hotel Ltd expects to record a net profit of not less than HKD50.0 million (US$6.4 million) for the 12 months ended March 31, 2024. The result compares with a HKD128.0-million loss in the previous financial year, said the company in a Tuesday filing to the Hong Kong Stock Exchange.
The turnaround in performance “was mainly because the group’s total revenue significantly increased by over 150 percent during the year,” stated the firm. Emperor Entertainment reported total revenue of HKD291.1 million in the financial year ended on March 31, 2023.
The company said the increase in revenue was driven by a “revival in the number of visitor arrivals,” as well as a “recovery in hospitality and entertainment demand” in the markets where it operates. The group will report its annual results in late June.
Emperor Entertainment runs casino venue the Grand Emperor Hotel (pictured) in downtown Macau. The casino is promoted under the licence of gaming concessionaire SJM Holdings Ltd.
The firm 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.
The company reported an interim profit attributable to its owners of HKD11.8 million for the six months to September 30, 2023. Its first-half revenue rose by 242.5 percent year-on-year, to HKD371.8 million.
