Macau Satellite Casino Promoter Emperor Entertainment Hotel reported an expanded annual loss of HK$528.3 million ($67.3 million) in the 12 months to March 31, from HK$177.6 million a year earlier. The main cause was “a significant increase in fair value losses and impairment losses this year.”
SJM Holdings, a gaming licensing partner at Empower Entertainment, will take over casino operations at the Grand Empower Hotel (pictured) from June 27.
Gaming revenue from Emperor Entertainment rose 24.6% year-on-year to HK$26.6 million for the fiscal year ended March 31. 슬롯머신
Sales at large game venues rose 29.7% Y/Y to HK$179 million. VIP ROOM SALES INCREASED 16.9% TO HK$65 MILLION. Slot machine sales rose 6.9% Y/Y to HK$16.6 million.
“The year-long fluctuating COVID-19 pandemic still has entry restrictions and quarantine measures in place within Taiwan, leaving the overall operating environment in the tourism and hospitality sector in a difficult state,” the company said in a filing with the Hong Kong Stock Exchange on Thursday.
A reference to the Guangdong-Hong Kong-Macao Great Bay Area, a community cluster defined by the central government of China around the Pearl River Delta. In pre-pandemic business, tourists from Guangdong and Hong Kong were major customers of Macau casinos.
For the year ending March 31, Emperor Entertainment’s total income rose 37.8% to HK$415.9 million.
The company’s annual adjusted segmentation loss before interest, taxation, depreciation and amortization was negative at HK$171.8 million, up from HK$254.4 million a year ago.