Hong Kong Stock Exchange-listed Palasino Holdings Ltd has reported a sharp 81 percent decline in annual profits, despite an overall increase in revenue.

The Hong Kong Stock Exchange has given the green light for a new share issuance by Palasino Holdings Ltd, a newly-listed subsidiary of developer Far East Consortium (FEC), with the issuance aiming to raise some $2 million.

Hong Kong Stock Exchange-listed Far East Consortium has announced an increase in revenues for the financial year ending in the financial year ending March 31st, 2024, after facing 'significant challenges' due to heightened market volatility from fluctuating interest rates and unpredictable global economic conditions.

Macau's gaming market continues to be of interest, with the second quarter results showing a slight discrepancy for the larger operators as they aim to increase their base mass revenue, notes an analyst. Meanwhile, Thailand is proving to be more complicated than initially anticipated, while the UAE also poses its own new questions. On another flank, sports betting is heating up, as the UEFA Euro 2024 continues, with significant interest from Asian punters.

Brokerage Morgan Stanley is revising down its estimates for Sands China, now predicting that the company will garner EBITDA of some $2.4 billion for 2024, down 8 percent compared to previous estimates.

Palasino Holdings, a Czech gaming and entertainment company and a subsidiary of the Far East Consortium, plans to raise approximately HK$323.4 million ($41.4 million) through its initial public offering (IPO) of shares.

Hong Kong Stock Exchange-listed Far East Consortium (FEC) has announced the proposed date for the spin-off of its Czech Republic casino subsidiary: March 11th.

Hong Kong Stock Exchange-listed Far East Consortium has announced a 14 percent increase in its gaming business revenue during the first half of its financial year, to HK$151 million ($19.33 million), based upon its operations from the group’s Palasino-branded casino operations – located in the Czech Republic.

Hong Kong-listed real estate giant and gaming operator Far East Consortium (FEC) is planning to spin-ff one of its subsidiaries on the bourse, with a public and international offering of shares.

Hong Kong Stock Exchange-listed property giant Far East Consortium has announced a 28 percent yearly increase in its gaming revenue during the financial year ended March 31st, totaling HK$296 million ($37.79 million).