• 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’s Macau 1H gaming revenue up 7pct

Nov 29, 2018 Newsdesk Industry Talk, Latest News, Macau  


Kingston’s Macau 1H gaming revenue up 7pct

First-half gaming revenue at Kingston Financial Group Ltd, the operator of two so-called satellite casinos in Macau, improved by about 7 percent compared to the same time last year, the company announced on Wednesday. Kingston Financial told the Hong Kong Stock Exchange that it recorded gaming revenue of about HKD241.91 million (US$30.92 million) in its financial first half, ended September 30. The figure also includes revenue from food and drink sold in the casinos.

In spite of the rise in gaming revenue, the first-half turnover in all its business taken together decreased by about 3 percent to about HKD1.57 billion. First-half profit attributable to the owners of the company decreased by about 35 percent to about HKD592.16 million. The company attributed the drop in profit mainly to a one-time write-off of intangible assets amounting to about HKD266.1 million.

Kingston Financial runs the Casa Real casino on Macau peninsula and the Grandview casino (pictured) on Taipa, in both cases using SJM Holdings Ltd’s gaming rights.

The wider Kingston group also provides financial services, including securities brokerage, underwriting and placements; margin and initial public offering financing; corporate finance advisory services; futures brokerage and asset management services.

“The two casinos continued to provide solid contributions to the group,” the company told the stock exchange, adding that revenues from gaming added about 15 percent to the group’s total revenue.

At the end of its financial first half the Kingston Financial casinos contained an aggregate of 64 tables for the mass market and 12 tables in their VIP rooms, along with 215 slot machines and 140 live baccarat machines. “Live baccarat machines brought additional crowds to the property, achieving synergy with the slot machine business,” the statement said. The electronic table games feature a croupier to deal cards.

In 2017, Kingston Financial reported a 4-percent decline in gaming revenue due to what it said was increasing competition.

Kingston Financial chief executive Pollyanna Chu Yuet Wah is considered Hong Kong’s wealthiest woman, according to Forbes magazine. She was placed seventh on the list of Hong Kong’s 50 Richest People, with a net worth estimated at US$12 billion as at January.


  • tweet
Related articles
  • Kingston casino rev, gaming EBITDA negative interim 2020
    Kingston casino rev, gaming EBITDA...

    Nov 30, 2020  

  • Kingston Financial annual gaming takings dip to US$49mln
    Kingston Financial annual gaming...

    Jul 01, 2020  

More news
  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  

  • Tech supplier Crane ups forecast for 2021 core sales
    Tech supplier Crane ups forecast for...

    Feb 26, 2021  


Latest News

Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Macau junket investor Suncity Group has confirmed to GGRAsia on Friday that it was preparing the launch of new VIP gaming clubs at two separate Cotai casino resorts, respectively the Londoner...
Read More
Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Border casino op Donaco posts positive EBITDA for Jul-Dec

Border casino op Donaco posts positive EBITDA for Jul-Dec

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • GEG in US$1.6bln construction deal on Galaxy Macau Phase 4GEG in US$1.6bln construction deal on Galaxy Macau Phase 4 February 22, 2021
  • Caesars out of Korea, ex-partner R&F asks 3yr delayCaesars out of Korea, ex-partner R&F asks 3yr delay February 19, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us