The company has reported gaming revenue of HK$147m (US$18.8m) for the first half of its fiscal year.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Hong Kong\u2019s Far East Consortium<\/strong> has shared its financial results for the first six months of its fiscal year. The company reported that revenue from its gaming investments rose by 70.5 per cent year-on-year<\/strong> to approximately HK$147m (US$18.8m) as all three casinos were open for business \u2013 they were closed for two months last year.<\/p>\n\n\n\n The group has shares in The Star Entertainment Group<\/a> and 25 per cent of the Queens Wharf Brisbane integrated resort project<\/a>. According to the company, gaming revenues have proven to be “very resilient as the casinos have built a loyal customer base, returning enthusiastically each time Covid-19 restrictions were lifted.”<\/p>\n\n\n\n Hotel operations revenues<\/strong> were up 36.2 per cent year-on-year to approximately HK$897m while overall revenue decreased by 3 per cent<\/strong> to approximately HK$3bn. This was mainly due to less residential property development completion and settlement.<\/p>\n\n\n\n Far East Consortium’s net debt rose to approximately HK$23bn as of September 30 compared with HK$21.3bn on March 31.<\/p>\n","protected":false},"excerpt":{"rendered":" The company has reported gaming revenue of HK$147m (US$18.8m) for the first half of its fiscal year.<\/p>\n","protected":false},"author":176,"featured_media":32940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Far East Consortium reported a significant 70.5% year-on-year increase in gaming revenue to HK$147m for H1 FY, driven by the full operational status of its casino investments, including stakes in The Star Entertainment Group and Queens Wharf Brisbane. Despite strong performance in gaming and hotel operations, overall revenue declined 3% due to reduced residential property development completions, while net debt rose to HK$23bn.","focusai_entities":"Far East Consortium, The Star Entertainment Group, Queens Wharf Brisbane","focusai_location":"Hong Kong, Australia, Brisbane","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Debt Impact on Capital Strategy?","query":"What is the projected impact of the increased net debt on Far East Consortium's capital allocation strategy for future integrated resort developments and potential M&A activities?"},{"label":"Gaming Customer Resilience Drivers?","query":"How does the reported resilience of the gaming customer base influence Far East Consortium's long-term investment thesis for its casino assets, particularly regarding player acquisition and retention strategies?"}],"footnotes":""},"categories":[16338,163],"tags":[23632],"class_list":["post-777000529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000529","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=777000529"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000529\/revisions"}],"predecessor-version":[{"id":777000551,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000529\/revisions\/777000551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/32940"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777000529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777000529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777000529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}