Far East Consortium gaming revenue up 70.5% in six months to September 30

The company has reported gaming revenue of HK$147m (US$18.8m) for the first half of its fiscal year.

Hong Kong.- Hong Kong’s Far East Consortium has shared its financial results for the first six months of its fiscal year. The company reported that revenue from its gaming investments rose by 70.5 per cent year-on-year to approximately HK$147m (US$18.8m) as all three casinos were open for business – they were closed for two months last year.

The group has shares in The Star Entertainment Group and 25 per cent of the Queens Wharf Brisbane integrated resort project. According to the company, gaming revenues have proven to be “very resilient as the casinos have built a loyal customer base, returning enthusiastically each time Covid-19 restrictions were lifted.”

Hotel operations revenues were up 36.2 per cent year-on-year to approximately HK$897m while overall revenue decreased by 3 per cent to approximately HK$3bn. This was mainly due to less residential property development completion and settlement.

Far East Consortium’s net debt rose to approximately HK$23bn as of September 30 compared with HK$21.3bn on March 31.