Jun 24, 2020 Newsdesk Latest News, Macau, Top of the deck  
Profit at Macau casino hotel operator Emperor Entertainment Hotel Ltd decreased 28.2 percent year-on-year in the 12 months to March 31, the firm said in a filing to the Hong Kong Stock Exchange on Tuesday. Overall revenue – and gaming revenue – also fell during the reporting period.
Profit for the financial year was HKD263.9 million (US$34.1 million) compared to HKD367.5 million in the previous year. The firm’s gaming revenue declined by 18.5 percent in year-on-year terms during the reporting period, to HKD926.8 million.
The group runs the 311-room Grand Emperor Hotel (pictured) in the Macau peninsula. As of the end of the reporting period, the property’s casino – operating under the SJM Holdings Ltd gaming licence – had 67 mass-market tables, 180 slot machine seats, and a self-managed VIP gaming room with 10 tables. Gaming inventory count remained the same as in the prior-year period.
The group also operates a Macau hotel with no gaming: the 287-room Inn Hotel Macau, formerly known as Best Western Hotel Taipa.
Hong Kong-listed Emperor Entertainment Hotel announced in May its deal with SJM Holdings allowing the promoters of Grand Emperor Hotel to conduct casino operations at the property, had been extended for two years. The new arrangement runs until June 26, 2022, the latter date being the end of the current Macau concession of SJM Holdings.
During the 12 months to March 31, the Emperor Entertainment Hotel’s overall revenue fell by 17.2 percent year-on-year, to HKD1.14 billion.
The group said its performance for the year ended March 31 had been impacted by a “decline in the number of visitors” to Macau related to travel restrictions and health measures introduced by the local authorities to reduce the risk of a Covid-19 outbreak in the city. Measures began being implemented in late January and included a city-wide 15-day pause on casino operations in February.
Market sentiment was also negatively affected by the Sino-U.S. tensions, said the firm.
Mass market win from table games at Grand Emperor Hotel stood at HKD1.11 billion for the period, down by 6.2 percent in year-on-year terms. Revenue from this segment was HKD623.2 million – compared to HKD664.8 million in the prior-year period –, accounting for 67.3 percent of the group’s total gaming revenue.
Rolling chip turnover in Emperor Entertainment Hotel’s self-managed VIP room also declined in the year ended March 31, to HKD10.2 billion from HKD19.3 billion a year earlier. Revenue from the VIP room was HKD267.9 million, compared to HKD429.4 million in the prior-year period, accounting for 28.9 percent of the group’s total gaming revenue for the 12 months ended March 31.
The board recommended a final dividend of HKD0.03 per share. Together with the interim dividend of HKD0.03 per share, the total dividends per share for the year are HKD0.06, compared to HKD0.082 om the previous year.
Looking ahead, Emperor Entertainment Hotel’s management stated that the“unfavourable business environment” arising from the Covid-19 pandemic and the “volatile global economy” are likely “to somewhat hinder the development of Macau’s gaming market”.
It added: “As soon as the pandemic is well contained, and the travel restrictions and health control measures upon arrivals are eased, the group expects that the suppressed desire for leisure and pent-up consumption demand will be unleashed, resulting in an obvious rebound on the number of visitor arrivals.”
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