Macau casino hotel backer Emperor Ent nods special dividend

May 26, 2021 Newsdesk Latest News, Macau, Top of the deck  

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Hong Kong-listed Emperor Entertainment Hotel Ltd, promoter of the Macau casino hotel Grand Emperor Hotel, and its parent firm Emperor International Holdings Ltd, declared respectively on Tuesday special dividends for shareholders.

The moves are linked to Emperor Entertainment’s acquisition of three hospitality-related properties in Hong Kong from its parent firm, which was first announced in March.

The Emperor Entertainment entity is 70.3-percent owned by Emperor International. The Grand Emperor Hotel relies on the gaming licence of Macau casino concessionaire SJM Holdings Ltd. Emperor Entertainment also operates the non-gaming facility the IHM hotel, in Macau’s Taipa district.

In a Tuesday filing, Emperor Entertainment said its board has resolved to declare a special dividend of HKD0.05 (US$0.006) per share, payable on June 25. The firm had previously said such award was “in recognition of support” by its shareholders.

In a separate Tuesday filing, Emperor International declared a special dividend of HKD0.01 per share, also payable on June 25.

The three hospitality-related Hong Kong properties acquired from Emperor International would enable the Emperor Entertainment entity “to expand its business coverage beyond Macau, and widen” its “income source”, according to a joint announcement in March.

That statement also noted that Emperor Entertainment would retain its “core focus on gaming hotel” business, “with an extension of market presence in the regional hospitality sector”.

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