Emperor E Hotel returns to profit due to Macau casino operations

Hong Kong-listed Emperor Entertainment Hotel Ltd. has reported a 171% year-on-year increase in revenue, reaching HK$789.2 million (US$101 million) for the 12 months ending March 31, 2024, driven by the recovery of gaming operations at its Macau casino in the Grand Emperor Hotel.

The company also recorded a profit of HK$62.8 million (US$8.0 million), a significant turnaround from the HK$128.0 million (US$16.4 million) loss reported the previous year.

This improvement was largely due to a 424% year-on-year increase in gaming revenue, which rose to HK$459.2 million (US$58.8 million) and accounted for 58.2% of the group’s total revenue.

In addition to the hotel at the Grand Emperor Hotel, Emperor E operates 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 was HK$139.8 million (US$17.9 million).

Highlighting the ongoing recovery of the Macau market since its reopening in January 2023, Emperor E expressed confidence in its future prospects.

“Macau is the world’s largest gaming market and a leading leisure and entertainment hub in Asia. It attracts not only Mainland Chinese tourists but also visitors from Hong Kong, Taiwan, and other Asian countries,” the company stated.

“With improved transportation infrastructure connecting nearby cities and Macau’s diverse leisure offerings and unique attractions, the Group is optimistic about the sustainable long-term growth of the Macau market.”

The Board of Directors of Emperor E has recommended a final dividend payment of HK$0.015 per share for FY24.

Original Story by: IAG