Emperor Entertainment Hotel Ltd, operator of Macau’s Grand Emperor hotel and casino as well as s series of hotels in Hong Kong, saw its gaming revenue grow by 17.3% in the six months to 30 September 2024, buoyed by the resurgence of the Macau tourism market.
Gaming revenue of HK$253 million (US$32.5 million) accounted for 62.0% of the group’s total revenues, up from 58.0% a year earlier, it explained. Of that gaming revenue, HK$243.1 million (US$31.2 million) was derived from mass gaming tables and HK$9.97 million (US$1.28 million) from slots.
Group-wide revenue grew by 9.7% year-on-year to HK$407.9 million (US$52.4 million), with revenue from hotels and leasing apartments slightly down to HK$154.9 million (US$19.9 million).
However, due to a HK$263.9 million (US$33.9 million) fair value loss on investment properties, Emperor E fell to a net loss of HK$225.7 million (US$29.0 million) for the period.
Looking ahead, the company said, “Macau remains the world’s largest gaming market and is a leading leisure and entertainment hub in Asia. It is not just popular with Mainland Chinese tourists, but also with tourists from Hong Kong and Taiwan, as well as other countries in Asia. With the support from tourism initiatives, further expansion of Mainland China’s individual visit scheme and enhanced transportation infrastructure connecting to nearby cities, the Group is confident regarding the outlook for market growth in Macau.”
RelatedPosts
