Emperor Entertainment posts full-year net profit of US$8m

That compares to a HK$128m loss (US$16.4m) in the last fiscal year.

Macau.- Emperor Entertainment Hotel Limited has shared its financial results for the fiscal year ended March 31. It posted a net profit of HK$62.8m (US$8.0m), compared with a HK$128m loss (US$16.4m) in the previous year.

Revenue was up 171 per cent year-on-year to HK$789.2m (US$101m) and gaming revenue was up 423.3 per cent to HK$459.2m (US$58.8m), accounting for 58.2 per cent of all revenue. Hotel revenue – including from Hong Kong operations – was HK$171.4m (US$22m), up 82.2 per cent in year-on-year terms.

The company’s adjusted segmental earnings before interest, taxation, depreciation, and amortisation (EBITDA) were HK$175m (US$22.4m) in the 12 months to March 31, compared to a negative figure of HK$109.8m (US$14.1m) a year earlier.

In May, Emperor Entertainment Hotel announced that one of its offshore units was to acquire a 25-storey building in Hong Kong’s Central district for HK$655.2m (US$83.9m). The company said the acquisition was intended to expand its assets portfolio in its core business areas.

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.