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Kingston Financial expects 90% decline in profit

Hong Kong-listed Kingston Financial Group, which operates the Casa Real Hotel in Macau, says it is expecting to report a significant decrease of profit for the year ended March 31, 2021.

“Such a significant decrease was primarily attributable to, among other factors, a drop in revenue from the Group’s hotel and gaming business in Macau as a result of the drastic reduction in the number of visitor arrivals to Macau following the outbreak of COVID-19,” it said in a filing.

Company filing

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