Emperor Entertainment Hotel Ltd, operator of Macau’s Grand Emperor Hotel and Inn Hotel Macau, has reported a HK$141.8 million loss attributable to the owners of the company for the six months to 30 September 2020, down from a profit of HK$177.2 million over the same period last year.
The decline follows an 86.3% fall in group-wide revenue to HK$92.9 million, including a 90.9% drop in gaming revenue to HK$51.1 million, due to low visitation to Macau during the COVID-19 pandemic.
Gaming revenue at Emperor E’s flagship property Grand Emperor, located on the Macau peninsula near SJM’s Grand Lisboa, was almost entirely from the mass market, with the main gaming floor accounting for 72.8% of revenue at HK$37.2 million and slot machines 15.4% of revenue at HK$7.9 million. The VIP room reported gaming revenue of just HK$6.0 million, representing 11.8% of revenue.
Hotel revenue was HK$41.8 million, down from HK$118.4 million over the same period last year.
Despite the tough operating circumstances brought about by COVID-19, Emperor Expressed confidence in Macau’s long term prospects.
“The quarantine measures within the Greater Bay area are likely to be further relaxed if the pandemic is well contained,” it said.
“Based on the suppressed desire for leisure and pent-up consumption demand, the Group expects that visitation and spending will rebound afterwards, resulting in a boost for the tourism industry in Macau.
“The Group strives to stay competitive in the marketplace, and anticipates reaping the greatest possible benefits when the market revives.”
