Emperor Ent posts US$8mln annual profit, rev up 171pct

Jun 25, 2024 Newsdesk Latest News, Macau, Top of the deck  

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Macau satellite casino promoter Emperor Entertainment Hotel Ltd reported a net profit of HKD62.8 million (US$8.0 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 Monday filing to the Hong Kong Stock Exchange.

Revenue for the reporting period rose by 171.1 percent year-on-year, to HKD789.3 million.

Emperor Entertainment’s board recommend the payment of a final dividend of HKD0.015 per share. If approved, the dividend will be paid on September 19.

The firm runs the 311-room Grand Emperor Hotel (pictured) in downtown Macau, including the complex’s casino. The gaming venue is promoted under the licence of casino 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 (EBITDA) were HKD175.0 million in the 12 months to March 31, compared to a negative figure of HKD109.8 million a year earlier.

Gaming revenue rose by 423.3 percent year-on-year, to HKD459.2 million. Hotel revenue – including from Hong Kong operations – for the period was HKD171.4 million, up 82.2 percent from a year ago.

In May, outside the reporting period, Emperor Entertainment said that one of its offshore units was to acquire a 25-storey building in the Central district of Hong Kong from a connected company, for a total consideration of HKD655.2 million.

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