Kingston Financial gaming revenue up, but profit down

Kingston Financial posted a 35 percent year-on-year decline in profit for the six months ended September 2018, mainly due to a one-time write off of the group’s intangible assets.

Said profit attributable to owners of the company fell to HK$592.2 million (US$75.7 million), down from HK$908.9 million in the prior year period.

Kingston Financial is the operator of the Casa Real Hotel and Grandview Hotel in Macau.

While profit was down, gaming revenue for the company was up approximately 7 percent – reaching HK$241.9 million.

As at 30 September 2018, the Group’s gaming operations include 64 tables in the two mass-market halls, 12 tables in the VIP rooms and 215 slot machines and 140 live baccarat machines in the electronic gaming halls.

Kingston noted that the live baccarat machines brought the additional crowd to the property, achieving synergy with the slot machine business.