Emperor Ent Hotel cuts loss from April to September and pays dividend
An increase in gaming revenue – especially mass gaming – allowed Emperor Entertainment Hotel Ltd, operator of Macau’s casino, the Grand Emperor Hotel (pictured), to reduce its loss for the six-month period ended September 30, 2021 compared to to the previous year. period.
The company reported a net loss of just under HKD 84.0 million ($ 10.8 million) for the period April to September of this year. This compares with a net loss of HKD 141.8 million in the period a year earlier, according to a filing on Thursday on the Hong Kong Stock Exchange.
Emperor Entertainment operates a second hotel in Macau called the Inn Hotel, but this property does not have gaming facilities. The group is also engaged in the hotel operation and rental of serviced apartments in Hong Kong.
Emperor Entertainment’s board of directors announced on Thursday that it has declared an interim dividend of HKD 0.015 per share for the period, similar to the comparable period of 2020. It will be payable on December 23 to shareholders of record as of December 14.
The company said its revenue in the six months leading up to September 30 more than doubled year-over-year to nearly HKD 223.4 million. This was due to a 193.1% increase in gaming revenue in downtown Macau property during the review period, to HKD 149.7 million, the company said.
The Grand Emperor Hotel Casino operates as a satellite under a services agreement with Macau gaming licensee SJM Holdings Ltd. The venue consisted of 67 mainstream gaming tables and 10 VIP tables, and had a capacity of 180 slots. , as of September 30, 2021.
“Supported by a gradual recovery of the games market in Macau,” the revenue of the Grand Emperor Hotel mass market hall increased 191.9% year-on-year during the period to reach 108.6 million. HKD, contributing 72.5% of the group’s income. total gaming revenue.
Emperor Entertainment’s self-managed VIP room revenue increased 426.7% year-over-year to HKD 31.6 million in the six-month period ended September 30.
“Although there were a few sporadic outbreaks of Covid-19 in Macau and mainland China during the reporting period, visits to Macau have resumed and feelings of entertainment and consumption have improved,” Emperor said. Entertainment.
The Grand Emperor Hotel was under a two week confinement in October, after an investigation by Macao health officials confirmed that a case of Covid-19 had stayed at the facility.
Looking ahead, Emperor Entertainment has stated that, “as soon as [Covid-19-related] travel restrictions and cross-border health quarantine measures within the Guangdong-Hong Kong-Macao Wider Bay region are relaxed, the group expects visits and spending to rebound thereafter, which will boost the tourism industry in Macau and Hong Kong.