Satellite casino operator Emperor Entertainment Hotel has announced a 171.1 per cent increase in revenue for the financial year ending March 2024 compared to the previous year, with revenues reaching HKD789.3 million (MOP813 million/ US$101 million).
The surge in revenue is attributed to a revival in visitor arrivals and a recovery in hospitality and entertainment demand.
Emperor Entertainment operates hotels and serviced apartments across Macau and Hong Kong, including the Grand Emperor Hotel with gaming facilities and the Inn Hotel in Macau.
According to a stock filing sent to the HK Exchange on Monday, the group’s revenue from hotels and serviced apartments grew by 62.3 per cent year on year to HKD330.1 million.
The group’s gaming revenue skyrocketed by 423.6 per cent to HKD459.2 million, accounting for 58.2 per cent of its total revenue.
With the significant increase in total revenue, the company reported a net profit of HKD62.8 million for that financial year, reversing the net loss of HKD128 million recorded in the previous fiscal year.
The board of directors recommended the payment of a final dividend of HKD0.015 per share for the year. If approved, the final dividend will be paid on 19 September.
Regarding the business outlook in Macau, Emperor Entertainment expressed optimism in the long-term growth in the market, citing enhanced transport infrastructure to and from nearby cities and Macau’s diverse leisure offerings and attractions.
