• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Kingston Financial casino revenue slips 38 pct in 1H

Nov 24, 2015 Newsdesk Industry Talk, Latest News, Macau  


Kingston Financial casino revenue slips 38 pct in 1H

Kingston Financial Group Ltd reported that gaming revenue from two Macau casinos it controls fell by 38 percent year-on-year in the six months to September 30.

Gaming revenue – including food and beverage sales in the casinos – declined to HKD235.29 million (US$30.4 million), from HKD379.38 million in the year-prior period, the company said in a filing to the Hong Kong Stock Exchange on Monday.

It said the gaming operation was “affected by the sluggish market conditions” in Macau.

The firm controls two casino hotels – Casa Real (pictured) on Macau peninsula and Grandview on Taipa. They offer gaming under the casino licence of SJM Holdings Ltd via a so-called service agreement.

As at September 30, Kingston Financial controlled 59 mass-market tables in two mass market gaming halls, and 14 tables in two VIP rooms. Its casinos also had an aggregate of 239 slot machines and 134 “live baccarat machines” in electronic gaming halls at the two venues, the firm said.

Kingston Financial’s principal business is financial services, including securities brokerage, underwriting and share placements, as well as financing for margin trades and organisation of initial public offerings.

Revenue from the gaming segment accounted for 14.2 percent of the HKD1.65-billion revenue recorded by the group in the fiscal first half, said Kingston Financial. The firm said group wide net profit for the six months to September 30 increased by about 59 percent year-on-year to HKD923.38 million, “mainly due to the increase in income from securities brokerage, underwriting and placements, margin and IPO financing businesses”.

Earlier this year, Kingston Financial underwrote a rights issue in Hong Kong by mainland China real estate developer Landing International Development Ltd. It was toward the latter’s share of costs for a South Korea casino project being pursued in partnership with Singapore casino operator Genting Singapore Plc. Landing International said on July 17 that the exercise had raised HKD4.16 billion.


  • tweet
Related articles
  • Investor urges MGM Resorts to sell 20pct of Macau unit
    Investor urges MGM Resorts to sell...

    Jan 07, 2021  

  • DICJ deputy director steps down, takes unpaid leave
    DICJ deputy director steps down, takes...

    Jan 06, 2021  

More news
  • Londoner Macao first phase launch Feb 8 says Sands China
    Londoner Macao first phase launch Feb 8...

    Jan 21, 2021  

  • Grand Lisboa Palace backer SJM taps circa US$1bln in notes
    Grand Lisboa Palace backer SJM taps...

    Jan 21, 2021  


Latest News

Londoner Macao first phase launch Feb 8 says Sands China

Londoner Macao first phase launch Feb 8 says Sands China

Jan 21, 2021  

The first phase of the newly-rebranded Macau casino resort the Londoner Macao is to be launched on February 8, the property’s promoter Sands China Ltd, announced on Thursday. The company said the...
Read More
Grand Lisboa Palace backer SJM taps circa US$1bln in notes

Grand Lisboa Palace backer SJM taps circa US$1bln in notes

Jan 21, 2021  

Sands China sixth Macau op to pledge staff extra payment

Sands China sixth Macau op to pledge staff extra payment

Jan 21, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"Our expansion from 2021 and beyond will create tremendous opportunities to team members”

Francis Lui Yiu Tung

Vice chairman of Macau-based casino operator Galaxy Entertainment



Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Casino op MGM China to pay most staff discretionary bonusCasino op MGM China to pay most staff discretionary bonus January 18, 2021
  • Wynn and Melco also flag bonus for Macau staffWynn and Melco also flag bonus for Macau staff January 19, 2021
  • Investors see 2H Macau gain, rebound 2022: BernsteinInvestors see 2H Macau gain, rebound 2022: Bernstein January 19, 2021
  • Wakayama casino RFP deadline affirms still 2 suitorsWakayama casino RFP deadline affirms still 2 suitors January 18, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us