• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Kingston Financial casino revenue up 2pct in fiscal 2017

Jun 30, 2017 Newsdesk Latest News, Macau, Top of the deck  


Kingston Financial casino revenue up 2pct in fiscal 2017

Hong Kong-listed Kingston Financial Group Ltd reported that gaming revenue from its two Macau casinos increased by 2.3 percent year-on-year in the fiscal year to March 31, 2017.

Casino revenue rose to HKD492.1 million (US$63.1 million), from HKD480.8 million in the previous year, the company said in a filing to the Hong Kong Stock Exchange on Thursday.

The firm controls two casino hotels – Casa Real on Macau peninsula and Grandview (pictured) on Taipa – that offer gaming under the licence of SJM Holdings Ltd.

As of March 31, Kingston Financial controlled 64 mass-market tables and 12 tables in VIP rooms. Its casinos also had 280 slot machines and 140 “live baccarat machines” in the electronic gaming halls, according to the filing.

“Live baccarat machines brought additional crowd to the casino, achieving synergy with the slot machine business,” said Kingston Financial.

The company reported lower commissions paid as an incentive to attract customers during the 12 months to March 31, 2017. Gaming commissions paid by the firm fell approximately 20.0 percent year-on-year to about HKD91.5 million in the latest fiscal year, according to Thursday’s filing.

“The decrease was due to the decrease in chips turnover in the group’s two casinos as there was stiff competition in the gaming industry in Macau during the [financial] year,” the firm said.

Aside from gaming and hospitality services in Macau, Kingston Financial is principally engaged in the provision of financial services, including securities brokerage, underwriting and share placements, and financing for margin trades and for initial public offerings.

Revenue from the gaming business segment accounted for 17.1 percent of the HKD2.88-billion revenue recorded by the group in the fiscal year, said Kingston Financial.

Group wide net profit for the fiscal year declined by 12.7 percent year-on-year to HKD1.48 billion, mainly because of the decrease in income from securities brokerage, underwriting and placements business, the firm said.


  • tweet
Related articles
  • Paradise Co casino revenue dips 8pct m-o-m in April
    Paradise Co casino revenue dips 8pct...

    May 03, 2022  

  • S.Korea 2021 casino rev up 13pct y-o-y due to Kangwon Land
    S.Korea 2021 casino rev up 13pct y-o-y...

    Jan 29, 2022  

More news
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Melco to launch family attraction at Studio City in JuneMelco to launch family attraction at Studio City in June May 19, 2022
  • Bloomberry plans 3rd Philippine casino, coastal near ManilaBloomberry plans 3rd Philippine casino, coastal near Manila May 19, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us