Emperor Entertainment expecting HK$190 mln in losses for last FY

Emperor Entertainment Hotel Limited is expecting to finish the financial year ending March 31 with some HK$190 million (US$24.4 million) in net losses attributable to its shareholders, a notice published with the Hong Kong Stock Exchange indicates.

The group ended the financial year ending September 30, 2020 with some HK$141.8 million in net losses, after total revenue decreased by 86.3 per cent year-on-year to HK$92.9 million due to the pandemic disruption in the local tourism sector.

However, the hotel and gaming group noted that the resumption of the Individual Visit Scheme for mainland China visitors coming to Macau in September 2020 led to a rebound in visitor arrivals numbers, that helped the group’s revenues in the second half of the year rose by more than 200 per cent from the first half.

The group currently operates two hotels in Macau, the Grand Emperor Hotel and Inn Hotel Macau, with the casino at GEH operated under the SJM gaming license.

The company’s full-year results are expected to be published by end of June 2021.