Macau satellite casino operator Emperor Entertainment Hotel Limited has issued a profit alert for the six months to 30 September 2023 on an anticipated profit of “not less than” HK$10 million.
According to details filed with the Hong Kong Stock Exchange overnight, this will reverse the HK$190.9 million loss the company recorded during the same period last year.
Emperor E, which operates Macau’s Grand Emperor Hotel and casino under the license of SJM Resorts, said the turnaround was mainly because total revenue significantly increased by approximately 240%, driven by the revival of the number of visitor arrivals as well as the recovery of hospitality and entertainment demand. The company also expects to record a fair value gain on investment properties for the period versus a fair value loss in 2022.
Interim results are due to be made public in late November.
The positive news comes after Emperor E stated in June its intention to focus on “Chinese-speaking communities” as it embarks on its recovery from the COVID-19 pandemic.
“To thrive in a highly competitive market in both regions, the Group will continue strengthening its market presence by enhancing the guest experience, implementing better customer segmentation, and capitalising on its brand awareness arising from its long establishment and popularity in Chinese-speaking communities, while leveraging the synergies resulting from being part of Emperor Group,” it said at the time.
