Emperor Entertainment Expands Hospitality Portfolio with Hong Kong Acquisition

The hotel company that owns Macau’s Grand Emperor Hotel and Casino, Emperor Entertainment Hotel Ltd., is growing in Hong Kong.

The business and its parent, Emperor International Holdings Ltd., inked an agreement for the purchase of a 25-story serviced apartment complex in Central, Hong Kong, for HK$700 million (US$90 million).

By making this calculated move, Emperor Entertainment strengthens its position in its main line of business.

By acquiring more properties, they increase their revenue stream and capitalise on Hong Kong’s expanding need for serviced apartments.

The corporation attributes increasing demand to significant local government initiatives, like the New Capital Investment Entrant Scheme and several talent programs.

Longer-term housing is required since these programs attract professionals, expats, and their families from mainland China and other regions.

Emperor Entertainment predicts that corporate and student tourists will continue to be in demand.

This expectation is heightened by Hong Kong’s position in the Greater Bay Area and its function as a gateway to the financial market of mainland China.

In addition to expanding the portfolio, the acquisition is anticipated to produce net proceeds of approximately HK$654.5 million.

Emperor Entertainment’s financial situation is strengthened and their reserves for upcoming investments are increased as a result.

Original Story by: Asian Gaming Brief