Hong Kong-listed hotel and satellite casino operator Emperor Entertainment Hotel Ltd has reported a 243% year-on-year increase in group-wide revenues for the six months to 30 September 2023, boosted by a more than 700% improvement in gaming revenues at Macau’s Grand Emperor.
In its 1H24 results announcement overnight, Emperor E said gaming revenue reached HK$215.6 million for the period, up from just HK$24.4 million a year earlier and accounting for 58% of the group’s total revenue. Of this, HK$207.0 million was from mass market gaming tables and HK$8.6 million from slot machines. The property does not offer VIP gaming.
Hotel revenue from the six hotels Emperor E operates in Hong Kong and Macau grew by 85.5% to HK$156.2 million.
The improvement in revenue performance also saw Emperor E report a profit attributable to owners of the company of HK$12.1 million, reversing a HK$190.9 million loss a year earlier.
Providing a positive outlook for the years ahead, Emperor E said, “There are ongoing improvements in infrastructure between Macau and the Greater Bay Area, such as the ongoing expansion of the China High Speed Rail routes to Zhuhai border gate from key cities in mainland China, and the development of a Macau LRT extension to Hengqin Island – which can facilitate more convenient travel to Macau in the near future. Particularly in light of the expanding middle class, the Group believes that mainland China outbound tourism will continue growing.
“The Group is facing both opportunities and challenges on the road to full recovery. Against the backdrop of market uncertainties, the Group will continue strengthening its market presence by enhancing the guest experience, implementing better customer segmentation and capitalizing on its brand awareness, spearheaded by its experienced management team with a proven track record in hospitality services.”
