Emperor Entertainment expects annual net loss of US$24.5m

Emperor Entertainment attributed losses to travel restrictions through most of the fiscal year.

Macau.- Emperor Entertainment has announced it expects to record a net loss of nearly HK$190m (US$24.5m) for the fiscal year 2021 that ended March 31. 

It said the majority of the losses were recorded during the first half of the fiscal year due to Covid-19 pandemic countermeasures and the lack of tourists.

The casino operator started to see some recovery after the resumption of China’s Individual Visit Scheme (IVS) in September 2020. Revenue rose by more than 200 per cent from the first half of the year.

Macau operators are hopeful about this weekend’s Labour Day break as the Macao Government Tourism Office (MGTO) expects a hotel occupancy rate of between 70 per cent and 80 per cent.