Macao satellite casino promoter Emperor Entertainment Hotels Ltd reported net income of HK$62.8 million (US$8 million) for the 12 months ended March 31, 2024. The results compare to a HK$128 million loss in the previous financial year. The company said in a filing to the Hong Kong Stock Exchange on Monday that the results compared to a HK$128 million loss in the previous financial year.
Revenue for the reporting period rose 171.1% year-on-year to HK$789.3 million.
EMFURRER ENTERTAINMENT BOARD RECOMMENDED A FINAL DIVISION OF HK$0.015 PER SHARE, AND WILL PAY A DIVISION ON SEPTEMBER 19, IF ACCESSED.
The company operates the 311-room Grand Emperor Hotel (pictured) in downtown Macau, which includes a casino in the complex. The gaming venue is promoted under the license of casino concession operator SJM Holdings Ltd.
Imperial Entertainment operates a second hotel in Macau called Inn Hotel, but the property does not have a gaming facility. The group also has hotel operations and a service apartment business in Hong Kong.
Adjusted segmental profit before interest, taxation, depreciation and amortization was HK$175 million for the 12 months ended March 31, compared with negative figures of HK$19.8 million a year earlier.
Gaming sales rose 423.3% year-on-year to HK$459.2 million. Hotel sales, including its Hong Kong operations, rose 82.2% from a year ago to HK$171.4 million during the period.
In May, outside the press period, Emperor Entertainment said it was acquiring a 25-story building in Hong Kong's Central District for a total of HK$655.2 million from a company to which one of its overseas operations is connected.
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