Emperor Entertainment expects to post net profit of US$1.2m for H1
The group has seen a 240 per cent year-on-year increase in revenue.
Macau.- Emperor Entertainment Hotel has announced that it expects to record a net profit of no less than HK$10m (US$1.2m) for the first half of this year.
The group attributes the turnaround to a 240 per cent rise in revenue year-on-year, predominantly driven by the resurgence in visitor arrivals and the demand for hospitality and entertainment services. The Macau satellite casino operator also foresees an accrual of fair value gains on its investment properties. Full interim results are slated for publication in late November.
Emperor Entertainment Hotel manages a portfolio of three hotels and a serviced apartment collection in Hong Kong and Macau: The Emperor Hotel, The Unit Serviced Apartment, Grand Emperor Hotel, and Inn Hotel Macau.
An indirect wholly-owned subsidiary of Emperor Entertainment has a three-year contract with SJM. The terms cover a range of services, including sales, promotion, publicity, management and customer development at the Grand Emperor Hotel.
In 2022, Emperor Entertainment reported that revenue was down 30 per cent year-on-year to HK$291m (US$37.2m). Gaming revenue was down 66.3 per cent to HK$87.7m (US$11.2m).
