Kingston Financial sees 13% drop in 2020 revenue

Casa Real Hotel
Casa Real Hotel

Kingston Financial, which operates casinos in Macau under SJM Holding’s license, reported a 13 percent decline in revenue for the year ending March 31, with income from its gaming division declining.

Revenue was HK2.6 billion, while profit was HK$503 million, down about 50 percent. The Hong Kong-listed group said the drop was mainly due to impairment losses on advances to customers in high-margin financing. 

Gaming revenue fell to $382.2 million from $457.7 million.

The company operates the GrandView Casino on Taipa island and the casino in the Casa Real on the peninsula.