Far East Consortium gaming revenue up 14% in H1
The company posted gaming revenue of HK$151m for the first six months of the financial year.
Hong Kong.- The Far East Consortium (FEC) has shared its financial results for the first half of its 2024 financial year. The company reported that revenue from its gaming investments rose by 14 per cent year-on-year to HK$151m (US$19.33m).
The group’s gaming revenue was primarily from slot machines. Total revenue was up 108 per cent to HK$6.3bn (US$806.61m) compared with the six months ended September 30 2022. In the group’s hotel operations, revenues increased by 3.4 per cent year-on-year to approximately HK$942m.
Far East Consortium has shares in The Star Entertainment Group and 25 per cent of the Queens Wharf Brisbane integrated resort project. In November, the group closed an agreement to sell the Sheraton Grand Mirage Resort on the Gold Coast, Australia for AU$192m (US$125.03m).
Far East Consortium also operates three casinos in the Czech Republic under the Palasino brand and obtained an online gaming licence in Malta last November. The company said it has “an exciting lineup of significant projects set to be completed in the next couple of years, spanning across property development, hospitality, and gaming divisions. The recurring income businesses are expected to maintain steady growth during this period.”
