Emperor Entertainment Hotel Ltd. is expecting to record a net profit of not less than HK$10 million ($1.2 million) in the first half of this year, a turnaround from the HK$190.9 million in losses reported in the same period of last year.
The group attributed the recovery to a jump in total revenue of some 240 percent year-on-year driven by the revival of the number of visitor arrivals as well as the recovery of hospitality and entertainment demand.
The Macau satellite casino operator also expects to record a fair value gain on investment properties for the period covered.
Publication of the company’s full interim results is scheduled to be made in late November 2023.
Emperor Entertainment Hotel currently runs 3 hotels and a serviced apartment collection in Hong Kong and Macau, namely The Emperor Hotel, The Unit Serviced Apartment, Grand Emperor Hotel, and Inn Hotel Macau
An indirect wholly-owned subsidiary of Emperor Entertainment entered into an agreement with SJM for the provision of services including but not limited to selling, promotion, publicity, management, and customer development to SJM in Grand Emperor Hotel for a term of 3 years commencing January 1st, 2023.