The company posted gaming revenue of HK$151m for the first six months of the financial year.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- The Far East Consortium<\/strong>\u00a0(FEC) has shared its financial results for the first half of its 2024 financial year. The company reported that revenue from its gaming investments rose by 14 per cent year-on-year to\u00a0HK$151m\u00a0<\/strong>(US$19.33m).<\/p>\n\n\n\n The group\u2019s gaming revenue was primarily from slot machines. Total revenue was up 108 per cent to HK$6.3bn (US$806.61m) compared with the six months ended September 30 2022. In the group\u2019s hotel operations, revenues increased by 3.4 per cent year-on-year to approximately HK$942m.<\/p>\n\n\n\n Far East Consortium has shares in\u00a0The Star Entertainment Group<\/a>\u00a0and 25 per cent of the\u00a0Queens Wharf Brisbane integrated resort project<\/a>.\u00a0In November, the group closed an agreement to\u00a0sell the Sheraton Grand Mirage Resort on the Gold Coast<\/a>, Australia for AU$192m (US$125.03m).<\/p>\n\n\n\n Far East Consortium also operates three casinos in the Czech Republic<\/strong> under the Palasino brand and obtained an online gaming licence in Malta last November.\u00a0The company said it has “an exciting lineup of significant projects set to be completed in the next couple of years, spanning across property development, hospitality, and gaming divisions. The recurring income businesses are expected to maintain steady growth during this period.”\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" The company posted gaming revenue of HK$151m for the first six months of the financial year.<\/p>\n","protected":false},"author":176,"featured_media":16856,"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 14% year-on-year increase in gaming revenue to HK$151m for H1 FY2024, primarily driven by slot machine operations. The group's total revenue surged by 108% to HK$6.3bn, supported by diverse investments including stakes in The Star Entertainment Group and the Queens Wharf Brisbane project, alongside its Palasino casinos in the Czech Republic and a recent Malta online gaming licence. FEC anticipates continued growth from its recurring income businesses and upcoming projects across its property, hospitality, and gaming verticals.","focusai_entities":"Far East Consortium (FEC), The Star Entertainment Group, Palasino, Sheraton Grand Mirage Resort","focusai_location":"Hong Kong, Australia, Brisbane, Gold Coast, Czech Republic, Malta","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Malta Licence","query":"How does the recent acquisition of an online gaming licence in Malta align with Far East Consortium's broader digital transformation strategy and what are the projected NGR contributions from this new vertical?"},{"label":"Capital Allocation Strategy","query":"Given the divestment of the Gold Coast resort and ongoing investments in integrated resorts like Queens Wharf Brisbane, what is FEC's refined capital allocation strategy across its property, hospitality, and gaming divisions for the next 3-5 years?"}],"footnotes":""},"categories":[16338,163],"tags":[],"class_list":["post-777011553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011553","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=777011553"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011553\/revisions"}],"predecessor-version":[{"id":777011557,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011553\/revisions\/777011557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}