HONG KONG, Nov 26, 2019 - (ACN Newswire) -  Emperor Entertainment Hotel Limited ("Emperor E Hotel") (Stock code: 296) announced its 2019/20 interim results for the six months ended 30 September 2019 (the "Period").

Financial Highlights
HK$'000   For the six months ended 30 September   Changes
  2019   2018
Total revenue   677,931   665,588   + 1.9%
- Gaming operation   559,549   546,677   + 2.4%
- Hotel operation   118,382   118,911   - 0.4%
Gross profit   408,052   400,165   + 2.0%
Net profit   177,200   128,942   + 37.4%
Basic earnings per share   HK$0.14   HK$0.10   + 40.0%
Interim dividend per share   HK$0.030   HK$0.028   + 7.1%

During the Period, Emperor E Hotel's revenue increased to HK$677.9 million (2018: HK$665.6 million). Net profit saw a notable growth of 37.4% to HK$177.2 million (2018: HK$128.9 million), mainly due to its increased shareholding from 60% to 80% in a non-wholly owned subsidiary. Basic earnings per share were HK$0.14 (2018: HK$0.10). Emperor E Hotel declared an interim dividend of HK$0.030 (2018: HK$0.028) per share.

Emperor E Hotel continued to maintain a strong cash position and a healthy financial position, supported by its ongoing, stable cash inflows. Emperor E Hotel was in a net cash position as at 30 September 2019 and hence its gearing ratio was zero (calculated as net debt divided by total equity plus net debt) (31 March 2019: zero).

Gaming Revenue
During the Period, Emperor E Hotel's gaming revenue increased slightly to HK$559.5 million (2018: HK$546.7 million), accounting for 82.5% (2018: 82.1%) of the total revenue, and continued to be the major revenue contributor. In order to expand its customer base and enhance customer loyalty, Emperor E Hotel strengthened its efforts to improve customer segmentation and customer services, aiming to create a personalised and pleasant experiences for customers.

The gaming revenue comprises the income from gaming concourse, VIP room and slot machines, accounting for 67.6%, 28.6% and 3.8% of the gaming revenue respectively. Operational results of gaming concourse and VIP room segments are summarised as follows:

HK$   For the six monthsended 30 September   Changes
  2019   2018
Gaming Concourse (67 tables)
Gross win   676.9 million   552.3 million   + 22.6%
Average win per table per day   55,000   45,000   + 22.2%
VIP Room (10 tables)
Rolling amount   6,185.6 million   9,721.8 million   - 36.4%
Gross win   282.3 million   383.0 million   - 26.3%
Average win per table per day   154,000   209,000   -26.3%

Hotel Revenue
During the Period, the hotel revenue derived from Grand Emperor Hotel and Inn Hotel Macau was HK$118.4 million (2018: HK$118.9 million), accounting for 17.5% (2018: 17.9%) of total revenue. As of 30 September 2019, Grand Emperor Hotel and Inn Hotel Macau provided 311 and 287 guest rooms, respectively. The average room rates of Grand Emperor Hotel and Inn Hotel Macau were HK$846 (2018: HK$884) per night and HK$520 (2018: HK$499) per night, with occupancy rates of 94% (2018: 93%) and 93% (2018: 93%), respectively.

During the Period, Emperor E Hotel had repurchased a total of 19,835,000 shares of its own shares from the market using internal resources, with an aggregate consideration of HK$31.8 million, and at an average price of HK$1.597 per share. These repurchased shares had been cancelled subsequent to the end of the Period, and hence the total number of issued shares of Emperor E Hotel right after its cancellation was reduced by about 1.6% to 1,238,990,983 (31 March 2019: 1,258,825,983) shares. Having considered Emperor E Hotel's cash reserves, Emperor E Hotel believes the share repurchases would enhance value to Emperor E Hotel's shareholders and benefit Emperor E Hotel and its shareholders as a whole.

About Emperor Entertainment Hotel Limited
Emperor E Hotel principally engages in provision of entertainment and hospitality services in Macau under its parent company, Emperor International. It runs two hotels in Macau, namely Grand Emperor Hotel and Inn Hotel Macau, offering entertainment and leisure services, accommodation, food and beverage as well as retail outlets. Looking forward, it continues to look for potential business opportunities worldwide in the leisure sector. For more information, please visit its website: www.emp296.com.

Investor/Press Enquiry
Anna Luk
Group IR Director
Tel: +852 2835 6783
Email: annaluk@emperorgroup.com

Janice Au
Group IR Manager
Tel: +852 2835 6799
Email: janiceau@emperorgroup.com

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