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Kingston reports 19 percent decline in profit FY16H1

Hong Kong-listed investment company Kingston Financial Group Ltd. reported a 19 percent decrease in profit for the six months ended September 30, 2016, due to the decrease in income from securities brokerage, underwriting and placements business.

According to a filing on Monday, the company, which owns the Casa Real and Grandview casinos in Macau said it saw profits of HK$744.4 million in the half year, compared to HK$923.4 million in the corresponding period last year.

Turnover for the six months decreased approximately 17 percent to HK$1.4 billion, down from HK$1.7 billion in the prior year period.

Gaming revenue, which includes gaming revenue and food and beverage sales in casino, amounted to approximately HK$231.8 million, a drop of around 2 percent as compared HK$235.3 million in the previous period.

The group’s gaming operations currently include 61 tables in two mass market halls, 12 tables in VIP rooms, 232 slot machines and 115 live baccarat machines in electronic gaming halls.

“Live baccarat machines brought additional crowd to the property, achieving synergy with the slot machine business as well,” said the company.

The Group’s gaming operation is run by the licence holder Sociedade de Jogos de Macau, S.A.

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