Emperor Entertainment Hotel Ltd, the company that runs Macau’s Grand Emperor Hotel, has reported a notable improvement in its financial results for the half-year that concluded on September 30.
In comparison to a net loss of HKD155.7 million in the prior year, the company generated a profit of HKD11.8 million (US$1.5 million) during this time frame. HKD371.8 million was the total revenue for the reporting period, an increase of 242.5% year over year.
A notable 784.4% growth in gaming revenue to HKD215.6 million was the primary driver of Emperor Entertainment’s notable financial success. Moreover, hotel earnings—including those from operations in Hong Kong—rose by 84.6% to HKD133.2 million.
The company operates the Grand Emperor Hotel in the heart of Macau and markets its casino under a license from gaming concessionaire SJM Holdings Ltd. The Macau Inn Hotel, which is managed by Emperor Entertainment, is devoid of gaming establishments. Furthermore, the corporation runs serviced apartments and hotels in Hong Kong.
The first half of Emperor Entertainment’s fiscal year had adjusted segmental earnings before interest, taxes, depreciation, and amortization (EBITDA) of HKD81.1 million, a considerable increase over the prior year’s negative HKD105.7 million. Notably, SJM Holdings assumed control of the casino management during the brief suspension of the Grand Emperor Hotel’s gaming operations, which lasted from June 26, 2022, until June 26, 2023. Early in 2023, the Grand Emperor Hotel hosted a satellite version of its casino operations.
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Original story by: GGRAsia
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