Emperor Entertainment expects to post loss of nearly US$21m for H1

Emperor Entertainment Hotel’s expected loss would be more than double that of H1 last year.

Macau.- Emperor Entertainment Hotel Limited has announced that it expects to record a loss of MOP161.8m (US$21m) for the six months to September 30. The company attributed the increase in losses to a poor business environment, staffing expenses and its continued operation at a loss amid the impact of the Covid-19 pandemic.

The company also cited one-off expenses, such as severance payments, as a result of ceasing its gaming operation, and a decline in the fair value of its investment properties. For the year ended March 31, the group reported an annual loss of HK$528.3m (US$67.3m). It had reported a loss of HK$177.6m for the previous fiscal year. 

In June, Emperor Entertainment Hotel Limited reversed its decision to close its satellite casino after renewing its service agreement with gaming concessionaire SJM until December 31. It expects to release its financial results for the first half of the year in late November.