{"id":19439,"date":"2021-06-25T15:33:00","date_gmt":"2021-06-25T15:33:00","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=19439"},"modified":"2026-04-23T18:11:42","modified_gmt":"2026-04-23T21:11:42","slug":"kingston-financial-expects-90-decrease-in-net-profits","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kingston-financial-expects-90-decrease-in-net-profits","title":{"rendered":"Kingston Financial expects 90% decrease in net profits"},"content":{"rendered":"\n<p>Kingston Financial Group has announced it expects a 90 per cent decrease in revenue for the fiscal year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0<strong>Kingston Financial Group<\/strong>\u00a0has anticipated\u00a0that <strong>profits for the year ending March 31 will be down 90 per cent<\/strong>\u00a0when compared to the previous year.<\/p>\n\n\n\n<p>The group said the decrease was mainly caused by a drastic reduction in the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ends-2020-with-79-decline-in-gaming-revenues\">number of visitor arrivals<\/a>\u00a0in Macau due to the Covid-19 pandemic and the restrictions imposed by the government.\u00a0<\/p>\n\n\n\n<p>Kingston Group currently<strong>\u00a0runs two casinos in Macau<\/strong>, the Casa Real Casino on the Macau peninsula and the Grandview Casino on Taipa Island. Both casinos are operated in partnership with\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/sociedade-de-jogos-de-macau-to-officially-become-sjm-resorts\">SJM Holdings<\/a>.<\/p>\n\n\n\n<p>Last September, the company 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<p><strong>Revenue for the six month period was around HK$1bn<\/strong>, with revenue from hotel operations plus food and beverage reaching HK$15m, and gaming suffering a HK$13.5m loss. The company has seen a <strong>decline in profit and revenue going back to before the Covid-19 pandemic<\/strong>.<\/p>\n\n\n\n<p>The group will publish its annual results on June 30.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kingston Financial Group has announced it expects a 90 per cent decrease in revenue for the fiscal year.<\/p>\n","protected":false},"author":176,"featured_media":19440,"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 anticipates a 90% year-on-year revenue decrease for the fiscal year ending March 31, primarily attributed to the drastic reduction in Macau visitor arrivals due to the COVID-19 pandemic and government restrictions. The group, which operates Casa Real and Grandview casinos in partnership with SJM Holdings, has experienced declining profits and revenue even prior to the pandemic.","focusai_entities":"Kingston Financial Group, SJM Holdings","focusai_location":"Macau, Taipa Island","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Recovery Outlook","query":"What is Kingston Financial Group's projected timeline for revenue recovery in Macau, considering the ongoing visitor arrival trends and potential easing of government restrictions?"},{"label":"SJM Holdings Partnership Impact","query":"How might Kingston Financial Group's significant revenue decline impact its partnership structure and operational agreements with SJM Holdings for the Casa Real and Grandview casinos?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,23906],"class_list":["post-19439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19439","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=19439"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19439\/revisions"}],"predecessor-version":[{"id":19456,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19439\/revisions\/19456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19440"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=19439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=19439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=19439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}