{"id":30458,"date":"2022-06-06T01:49:05","date_gmt":"2022-06-06T04:49:05","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30458"},"modified":"2026-04-23T08:06:07","modified_gmt":"2026-04-23T11:06:07","slug":"emperor-expects-us70m-to-us96m-net-loss-for-fy21-22","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/emperor-expects-us70m-to-us96m-net-loss-for-fy21-22","title":{"rendered":"Emperor expects US$70m to US$96m net loss for FY21\/22"},"content":{"rendered":"\n

The loss is mainly attributed to the revaluation loss of the group\u2019s investment properties and the expected cessation of its gaming business in June 2022.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Emperor Entertainment Hotel Limited<\/a>\u00a0has announced that it expects to record a net loss of between HKD550m (US$70m) and HKD750m (US$96m) for the year ended on March 31 2022. The company reported a loss of HKD224m (US$29m) for the previous fiscal year.<\/p>\n\n\n\n

Emperor Entertainment Hotel Limited said the result was mainly due to “a significant increase on fair value loss\u00a0<\/strong>and impairment losses during the year mainly resulting from the revaluation loss of the group\u2019s investment properties and the expected cessation of gaming business to be realised in June 2022 respectively.\u201d<\/p>\n\n\n\n

The group has recently revealed that its casino at the Grand Emperor Hotel will cease operations<\/a> due to the termination of its service contract with gaming franchisee SJM, which expires on June 26<\/strong>. <\/p>\n\n\n\n

Emperor Entertainment Hotel chair Semon Luk Siu Man<\/strong> said: \u201cconsidering the gloomy outlook of the high-end gaming segment and after careful and due consideration the group has resolved not to renew the service agreements with SJM and to cease the gaming operation.\u201d<\/p>\n\n\n\n

The company said the hospitality business in Grand Emperor Hotel will remain operational.<\/p>\n\n\n\n

SJM responsible for Grand Emperor Hotel casino layoffs<\/h2>\n\n\n\n

Macau\u2019s Labour Affairs Bureau has stressed that the gaming concessionaire SJM has a duty to protect the rights of laid-off workers following the casino’s closure at the Grand Emperor Hotel. <\/p>\n\n\n\n

The company cited \u201cthe gloomy outlook of the high-end gaming segment\u201d as one of the reasons for not renewing its service contract with SJM. Its hospitality business in will remain operational but according to local media reports, about 500 casino employees<\/strong> will be affected by the casino closure.<\/p>\n\n\n\n

The Labour Affairs Bureau said: \u201cThe DSAL is very attentive to the case and has already contacted the hotel and the gaming concessionaire, to follow up on the matter as soon as possible.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The loss is mainly attributed to the revaluation loss of the group\u2019s investment properties and the expected cessation of its gaming business in June 2022.<\/p>\n","protected":false},"author":176,"featured_media":17415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Emperor Entertainment Hotel Limited anticipates a net loss of HKD550m-HKD750m for FY2022, primarily driven by investment property revaluation losses and the cessation of its gaming operations at the Grand Emperor Hotel. This strategic decision, influenced by the \"gloomy outlook of the high-end gaming segment,\" involves the non-renewal of its service contract with gaming franchisee SJM, impacting approximately 500 casino employees.","focusai_entities":"Emperor Entertainment Hotel Limited, SJM, Semon Luk Siu Man, Labour Affairs Bureau, DSAL","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Gaming Outlook","query":"What specific market indicators or regulatory changes within Macau's high-end gaming segment contributed to Emperor Entertainment Hotel's decision to cease operations?"},{"label":"SJM Concession Impact","query":"How will the termination of the service agreement with Emperor Entertainment Hotel impact SJM's overall gaming concession revenue and operational footprint in Macau?"}],"footnotes":""},"categories":[157,16338],"tags":[23792],"class_list":["post-30458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-emperor-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30458","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=30458"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30458\/revisions"}],"predecessor-version":[{"id":30503,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30458\/revisions\/30503"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17415"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}