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Kingston Financial sees Macau gaming revenues fall

Tuesday, 28 November 2017 06:16
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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.

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