Kingston gaming revenue down 3 pct

Sunday 26th of November 2017

Kingston Financial Group, which operates the Casa Real Hotel and Grandview Hotel in Macau, saw its profit increase 22 percent to HK$908.9 million (US$116.5 million) for the six months ended September 30, 2017.

The increase, it said, was mainly attributed to an increase in income from its margin and IPO financing business.

Turnover for the period increased 17 percent to HK$1.6 billion, up from HK$1.3 billion in the prior year period.

Of this, gaming revenue, which includes food and beverage sales in the casino, amounted to HK$224.9 million in the period, representing a drop of 3 percent year-on-year.

As at September 30, 2017, the group’s gaming operations include 64 tables in the two mass market halls, 12 tables in the VIP rooms and 277 slot machines and 140 live baccarat machines in the electronic gaming halls.

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

Other than gaming, the group is engaged in the provision of a wide range of financial services which include securities brokerage, underwriting and placements, margin and IPO financing, corporate finance advisory services, futures brokerage and asset management services.

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