The group that operates casinos and hotels in Macau has revealed a fall in net profits for the first half of the year.<\/p>\n\n\n\n\n\n\n\n
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).<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
Kingston operates the Casa Real and Grandview hotels. The casinos in the properties operate under SJM\u2019s gaming licence, including 69 tables in the mass market halls, 15 tables in VIP rooms and 262 slot machines.<\/p>\n","protected":false},"excerpt":{"rendered":"
The group that operates casinos and hotels in Macau has revealed a fall in net profits for the first half of the year.<\/p>\n","protected":false},"author":2,"featured_media":12213,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Kingston Financial Group, a Macau-based operator of hotels and casinos under SJM's gaming licence, reported a 65% year-on-year decline in net profits to HK$169m for H1, alongside a 27% revenue drop from its gaming and hospitality verticals. This significant underperformance is attributed to reduced visitor volumes stemming from COVID-19 travel restrictions, resulting in a HK$13.5m loss from gaming operations.","focusai_entities":"Kingston Financial Group, SJM","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Market Recovery?","query":"What is the projected timeline for the recovery of mass market and VIP GGR in Macau, given the persistent travel restrictions and their impact on operator profitability?"},{"label":"SJM License Impact?","query":"How does Kingston Financial Group's underperformance impact SJM Holdings' overall licensing obligations and sub-concessionaire revenue share agreements in Macau?"}],"footnotes":""},"categories":[160,16338,163],"tags":[257],"class_list":["post-12211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12211"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12211\/revisions"}],"predecessor-version":[{"id":12223,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12211\/revisions\/12223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12213"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}