Kingston posts loss of US$2.67m for April to September

Kingston Group runs two casinos in Macau in partnership with SJM Holdings.
Kingston Group runs two casinos in Macau in partnership with SJM Holdings.

Kingston Financial has published its financial results for the six months ending September 30.

Macau.- Kingston Financial Group has reported a loss of HK$20.91m (US$2.67m) for the six months ending September 30. That compares to positive HK$18.76m (US$2.4m) in the same period last year. The company’s gaming segment recorded negative EBITDA of HK$43.44m (US$5.56m), an increase from the negative HK$42.81m (US$5.48m) in the same period of 2021.

Regarding the group’s activities in Macau, Kingston noted that it was uncertain when the negative impact on tourism and gaming in Macau would end. Kingston Financial Group operates 69 gaming tables and 262 slot machines in mass market halls. The company reported that it had no VIP tables because its VIP room closed in February 2022. Previous to the closure, it had 15 VIP tables.

In June, the company reached an agreement with SJM Holdings to extend its operation of Casa Real Casino and the Grandview Casino until December 31 this year. It is uncertain whether the casinos will continue to operate under the new concession, which is expected to take effect on January 1, 2023.

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Kingston Group Macau casinos