Gaming revenue rises at Far East Consortium

The Hong Kong based property developer saw a 4.6 per cent increase for gaming for the year ending March 31.

Hong Kong.- Hong Kong’s Far East Consortium saw a 4.6 per cent rise in gaming revenue for the year ending March 31.

The group owns the Austrian casinos operator Trans World Corporation (TWC) and has shares in the Australian group The Star Entertainment.

Gaming revenues amounted to HK$271 million (US$34.9 million) during the period. TWC’s gaming revenue alone saw a 13.1 per cent growth to HK$222.7 million (US$28.7 million).

Meanwhile, FEC’s 4.99 per cent stake in Australia’s Star Entertainment Group, which owns The Star Sydney Casino and other venues in Queensland, was responsible for the remaining HK$48.6 million (US$6.2 million), IAG reported.

The latter business saw a 22 per cent decline in revenue for the year ending March 31.

The group’s strategy for the long term is aimed at cross selling to the TWC and The Star customer data base. The goal is to introduce their Austrian casinos to potential Asian clients.