Hong Kong-listed Emperor Entertainment Hotel Ltd has reported a 171% year-on-year increase in revenue to HK$789.2 million (US$101 million) in the 12 months to 31 March 2024, boosted the recovery of gaming operations at its Macau casino at Grand Emperor Hotel.
The company also booked a HK$62.8 million profit (US$8.0 million) profit, reversing a HK$128.0 million (US$16.4 million) loss recorded a year earlier.
The improvement came off the back of a 424% year-on-year increase in gaming revenue to HK$459.2 million (US$58.8 million), which accounted for 58.2% of the group’s total revenue.
Emperor E also operates the hotel at Grand Emperor Hotel plus four hotels and unit blocks in Hong Kong. Total revenue from its Macau operations reached HK$649.5 million (US$83.2 million), while revenue from Hong Kong reached HK$139.8 million (US$17.9 million).
Pointing to the sustained recovery of the Macau market since reopening in January 2023, Emperor E said it remains confident in its future prospects.
“Macau is the world’s largest gaming market and a leading leisure and entertainment hub in Asia. It is not just popular with Mainland Chinese tourists, but also tourists from Hong Kong and Taiwan, as well as other countries in Asia,” the company said.
“With the enhanced transportation infrastructure connecting to nearby cities and Macau’s diversified leisure offerings and distinctive attractions, the Group is optimistic about the sustainable long-term growth of the Macau market.”
The Board of Directors of Emperor E has recommended payment of a final dividend of HK$0.015 per share for FY24.
