Emperor Entertainment Hotel Ltd, operator of Macau’s Grand Emperor Hotel and Inn Hotel Macau, has issued a profit warning ahead of losses expected to total “not more than HK$190 million” (US$24.5 million) for the year ended 31 March 2021.
The expected loss indicates significant improvement during the second half of the 2021 financial year, with Emperor E having previously reported a six-month loss of HK$141.8 million (US$18.3 million) through 30 September 2020. The company had reported a profit of HK$263.9 million (US$34.0 million) for the year ended 31 March 2020.
“As a result of the resumption of the Individual Visit Scheme [for] mainland China to Macau in September 2020, visitor arrivals to Macau rebounded and the suppressed entertainment demand was unlocked accordingly,” Emperor E said in its profit warning.
“Hence the Group’s gaming revenue during the second half of the year surged by more than 200% than that of the first half of the year, which amounted to HK$51.1 million (for the September 2020 half-year).”
The company’s Grand Emperor Hotel operates 67 mass market tables, 10 VIP tables and 180 slot machines
Emperor E will release its finalized FY21 financial results by the end of June.
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