Emperor Entertainment Hotel Ltd. ended the first half of 2023 with HK$12 million ($1.5 million) in net profits, a turnaround from the HK$190.9 million ($24.4 million) in losses reported in the same period of last year.
The Macau satellite casino operator saw its total revenue more than triple in the same period to HK$371.8 million ($47.6 million), with gaming revenue surging over 700 percent to HK$215.6 million ($27.6 million) and with revenue from hotels and serviced apartments increasing by 85.5 percent to HK$156.2 million ($20 million).
This recovery was possible after the reopening of borders between Hong Kong and Macau allowed for a recovery in the number of mainland China visitor arrivals.
Emperor Entertainment Hotel currently runs six hotels and a serviced apartment collection in Hong Kong and Macau, namely The Emperor Hotel and three blocks of The Unit Serviced Apartments in Hong Kong, and Grand Emperor Hotel and Inn Hotel in 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.
The group highlighted the ongoing improvements in infrastructure between Macau and the Greater Bay Area, such as the ongoing expansion of the China High Speed Rail routes to Zhuhai border gate from key cities in mainland China, and the development of a Macau LRT extension to Hengqin Island.
For Emperor, the improvements would facilitate more convenient travel to Macau in the near future, and in light of the expanding middle class, mainland China’s outbound tourism should continue to grow.
