Scientific Game

Kingston Financial sees Macau gaming revenues fall

Tuesday, 28 November 2017 06:16
Share
Visit us

Kingston Financial Group Limited, which operates two Macau casinos – Grandview Casino in Taipa and Casino Casa Real on the Peninsula – saw gaming revenue decline by 3% to HK$225.9 million for the six months to 30 September 2017. But the group said its gaming business was performing “steadily” and in line with the industry’s development.

Gaming revenue accounted for 70% of total hotel and gaming business turnover, down from 73%, it added.

Kingston Financial operates 64 mass market tables, 12 VIP tables, 277 slot machines and 140 live baccarat machines under license from SJM.

In a filing to the Hong Kong Stock Exchange, it said that, “The two casinos continued to provide solid contributions to the group,” adding that the addition of live baccarat machines this year “brought additional crowd to the property, achieving synergy with the slot machine business as well.”

Kingston Financial said that VIP commission paid decreased 15% from HK$48.7 million in the same period last year to HK$41.3 million in the six months to 30 September 2017 “due to the decrease in chips turnover in the group’s two casinos.”

Likewise, broker commission fell 2% to HK$22.7 million.

Group-wide turnover for the period increased 17% to HK$1.38 billion, with profit up 22% to HK$908.9 million.

What's new

Sands China assists Holy House of Mercy with post-typhoon aid

Sands China assists Holy House of Mercy with post-typhoon aid Sands China Ltd presented a cheque for just over MOP$2 million to Macau Holy House of Mercy on Tuesday to help with the cost of restoring its elderly home, which was severely damaged when Typhoon Hato tore through Macao in August. Sands China Ltd. President Dr Wilfred Wong and Vice President of Cor... Wednesday, 13 December 2017 05:59
Galaxy Macau and Broadway Macau win top marks at 2017 Quality Tourism Services Accreditation Scheme Galaxy Macau and Broadway Macau have won 13 distinct honors from the established Quality Tourism Services Accreditation Scheme (QTSAS) ceremony organized by Macao Government Tourism Office (MGTO). As a third-year winner, these awards further reinforce the resort’s leading position in providing t... Wednesday, 13 December 2017 05:56

International Table Tennis Federation eyes betting integrity with new Sportsradar partnership

International Table Tennis Federation eyes betting integrity with new Sportsradar partnership The International Table Tennis Federation (ITTF) has signed a new integrity partnership with Sportradar which will see it utilize the organisation’s vital monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing. The partnership will see hundreds of match... Wednesday, 13 December 2017 05:46
Norwegian Cruise Line Holdings announces transfer to the New York Stock Exchange Norwegian Cruise Line Holdings Ltd has announced the pending transfer of its ordinary shares from the Nasdaq Global Select Market to the New York Stock Exchange. In a press release, the company said it expects to begin trading on the NYSE on 19 December 2017, under its current ticker symbol “NCLH... Wednesday, 13 December 2017 05:40

Current Issue

2017 Inside Asian Gaming Power 50: Meet the Selection Panel

2017 Inside Asian Gaming Power 50: Meet the Selection Panel Andrew W Scott CEOInside Asian Gaming Inside Asian Gaming’s CEO first entered a casino in 1986, fell in love with the surrounds and has been around them ever since. Andrew founded World Gaming Group and launched WGM in 2009, took over IAG in 2015, debuted a third magazine called High Life in ... Tuesday, 05 December 2017 19:28

2017 Inside Asian Gaming Power 50: Ten Years On

2017 Inside Asian Gaming Power 50: Ten Years On A decade of making the Asian Gaming Power 50 By Andrew W ScottIAG Asian Gaming Power 50 selection panel Chairman EVERY year for the last decade, Inside Asian Gaming has completed a task that is fascinating, exhilarating, intellectually stimulating and industry-defining whilst simultaneously bei... Tuesday, 05 December 2017 19:12

2017 Inside Asian Gaming Power 50: Number 19 -  James Murren

2017 Inside Asian Gaming Power 50: Number 19 - James Murren 19 James Murren CHAIRPERSON AND EXECUTIVE DIRECTORMGM China Holdings POWER SCORE1,165 LAST YEAR12 CLAIMS TO FAME • Chairman of the world’s second largest casino company • Credited with keeping MGM Resorts afloat during the GFC If the strong domestic results achieved by MGM China’s pa... Tuesday, 05 December 2017 14:44

2017 Inside Asian Gaming Power 50: Number 18 - Chen Lip Keong

2017 Inside Asian Gaming Power 50: Number 18 - Chen Lip Keong 18 Chen Lip Keong CEO AND EXECUTIVE DIRECTORNagaCorp POWER SCORE1,234 LAST YEAR20 CLAIMS TO FAME • Casino monopoly within 200 kilometers of Phnom Penh runs to 2035, license to 2065. • Owns 65% of first gaming company ever listed in Hong Kong • NagaWorld extension Naga2 debuted in Novemb... Tuesday, 05 December 2017 14:39