China Star Entertainment 2015 profit tumbles 49 percent

China Star Entertainment, the owner and operator of the Lan Kwai Fong casino hotel in Macau, reported net profit dropped 49 percent in 2015, mainly due to a slump in gaming revenue and share-based payment expenses.

Profit fell to HK$107.9 million (US$13.9 million) in 2015, according to a filing with the Hong Kong Stock Exchange.

Revenue for the year was reported at HK$1.0 billion, down 19 percent from HK$1.3 billion in 2014. No final dividend was paid or proposed during the year, according to the filing.

The company’s hotel and gaming service operations include the Hotel Lan Kwai Fong Macau, which presents a total of 209 guest rooms, a casino in the ground, first and 18th floors, and restaurants.

 

 

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