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Kingston Financial reports 65% decrease in net profits

Kingston Financial has revealed the impact of the Covid-19 crisis on its numbers.
Kingston Financial has revealed the impact of the Covid-19 crisis on its numbers.

The group that operates casinos and hotels in Macau has revealed a fall in net profits for the first half of the year.

Macau.- Kingston Financial Group has published its financial report for the period ending September 30 showing a decrease in net profits of 65 per cent year-on-year to HK$169m (US$21.8m).

The company saw a 27 per cent drop in revenue from its hotel and gaming business in Macau because of the lack of visitors due to Covid-19 travel restrictions.

Revenue for the six month period was around HK$1bn, with revenue from hotel operations plus food and beverage reaching HK$15m, and gaming suffering a HK$13.5m loss.

Kingston operates the Casa Real and Grandview hotels. The casinos in the properties operate under SJM’s gaming licence, including 69 tables in the mass market halls, 15 tables in VIP rooms and 262 slot machines.

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