Hong Kong-listed casino and hotel operator Palasino Holdings Ltd is exploring land-based gaming opportunities in Asia, part of its ongoing expansion strategy that is already in progress across Europe, the company says.
Palasino, which was spun off from Hong Kong real estate giant Far East Consortium last year, currently operates three casinos in the Czech Republic , three hotels in Germany and a hotel in Austria. It is also preparing to open a fourth casino in the Czech Republic and is looking to launch in Poland through a local subsidiary.
In its 1H25 results announcement, filed Tuesday, Palasino said it is “actively looking at other European and Asian jurisdictions for similar land-based casino opportunities to expand the business.”
In the six months to 30 September 2024, the company increased the number of slot machines at its existing casinos from 568 to 630 “with the aim of capitalizing on the growth in the gaming industry,” it said. Palasino has previously outlined its moves into the online gaming space in Europe, while a recently incorporated a subsidiary, Palasino Technology (HK) Limited has signed a non-legally binding memorandum of understanding with GameSparcs Co Ltd to license online game content to target opportunities in Asia.
For the six months to 30 September 2024, Palasino reported a 1% year-on-year increase in gaming revenue to HK$196.1 million and a 2% increase in hotel revenue to HK$86.0 million. Profit attributable to owners of the company fell slightly to HK$15.7 million.
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