In Macau and the operator behind the Grand Emperor Hotel has released its interim unaudited financial results for the six months to the end of September showing that its overall corporate revenues had risen by 1.9% year-on-year to top $86.6 million.
Hong Kong-listed Emperor Entertainment Hotel Limited is also responsible for the 277-room Inn Hotel Macau and used an official Monday press release to detail that its aggregated half-year company profit had grown by some 37.4% year-on-year to hit approximately $22.6 million.
Emperor Entertainment moreover runs the Emperor Palace Casino inside its 311-room Grand Emperor Hotel and explained that this operation had chalked up a comparable 2.4% increase in six-month gaming revenues to about $71.4 million with mass-market receipts swelling by a massive 22.1% to $48.3 million. But the firm stated that this six-level casino with its collection of 180 slots and 67 gaming tables had additionally experienced a 26.3% decline in VIP takings to around $20.4 million while its aggregated non-gaming income fell by 0.4% to slightly over $15.1 million.
A subsidiary of Emperor International Holdings Limited, the Macau hotel and casino operator furthermore used the press release (pdf) to declare that six-month costs related to its 1,150 members of staff had grown by 3.5% year-on-year to roughly $28.7 million while is tax bill had swollen by almost 17.4% to reach $2.9 million.
Regarding the future and Emperor Entertainment proclaimed that an ‘expanding middle class and more comprehensive transportation network’ is sure to lead to a rise in the number of tourists visiting Macau from mainland China. As such, it pronounced that it is ‘optimistic about the long-term outlook’ of the local gaming market and its prospects for continued growth.
Read a statement from Emperor Entertainment…
“In order to stay competitive in the marketplace, the group will continue to strengthen its efforts to improve customer segmentation and customer service, aiming to create pleasant experiences for its mass customers and provide premium services for the targeted segments. In response to the volatile market situation, the group will closely monitor the market and promptly adjust strategies accordingly.”