Kingston Financial revenue up 238% between April and September

Kingston Financial has published its financial results for the six months ending September 30, reporting a 238 per cent growth in gaming revenue.

Macau.- Kingston Financial Group has reported that gaming revenue for the six months ended September 30, 2021, increased by 238 per cent. Gaming revenue reached HK$18.8m, mainly due to the increase in the number of tourists visiting Macau compared to the same period last year.

As of September 30, 2021, the Group operated 69 gaming tables in the mass market, 15 gaming tables in VIP rooms, and 262 slot machines in electronic gaming halls. However, despite the growth of the group’s gaming business, the group’s profit for the six months fell by 99 per cent, mainly due to an increase in the impairment loss of its financing business.

The stated profit was HK$2.5m, compared to HK$169m in the same period in 2020. The group’s total unaudited revenue was HK$913.1m, a decrease of 10 per cent year-on-year.

Kingston Group runs two casinos in Macau, the Casa Real Casino on the Macau peninsula and the Grandview Casino on Taipa Island. Both casinos are operated in partnership with SJM Holdings. For the financial year that ended on March 31, the company posted a 90 per cent decline in profit while revenue was down 22 per cent from HK$2.6bn to HK$2.1bn ($265m).