Financial Performance - Total revenue for the year ended March 31, 2021, was HK$301.855 million, a decrease from HK$1,116.20 million in 2020[15] - Gaming revenue was HK$209.075 million, down from HK$872.21 million in the previous year[15] - Hotel revenue decreased to HK$92.780 million from HK$211.56 million in 2020[15] - The Group reported a gross loss of HK$103.443 million compared to a gross profit of HK$1.10 million in 2020[15] - Loss attributable to owners of the Company was HK$177.576 million, compared to a profit of HK$221.21 million in the previous year[15] - Basic loss per share was HK$(0.15), a decline from earnings of HK$0.21 per share in 2020[15] - Final dividend per share was HK$0.015, down from HK$0.040 in the previous year[15] - The loss for the year attributable to the owners of the Company was HK$1,000,000 (2020: Profit of HK$200,000,000) with a basic loss per share of HK$0.10 (2020: Basic earnings per share of HK$0.21) [20] - Total revenue for the year was HK$301,000,000 (2020: HK$1,112,200,000), with a 12% increase in revenue in the second half compared to the first half, indicating a strong recovery [23] Gaming Operations - Total gaming revenue decreased by 69.3% to HK$201,100,000 (2020: HK$1,221,000,000), accounting for 69.3% of the Group's total revenue [33] - The mass market gross win was HK$242,100,000 (2020: HK$1,113,800,000), with revenue from the mass market hall at HK$138,000,000 (2020: HK$623,200,000), contributing 66.0% of total gaming revenue [37] - The VIP room generated revenue of HK$55,600,000 (2020: HK$267,900,000), contributing 26.6% of total gaming revenue, with a rolling amount of HK$2.4 billion (2020: HK$10.2 billion) [38] - The Group's VIP room turnover was HK$2.4 billion, a decrease of 76.5% from HK$10.2 billion in 2020, with VIP room revenue at HK$55.6 million, down 79.3% from HK$267.9 million in 2020, accounting for 26.6% of total gaming revenue[40] - Slot machine gross win was HK$32.7 million, down 56.5% from HK$75.1 million in 2020, with revenue of HK$15.5 million, a decrease of 56.6% from HK$35.7 million, representing 7.4% of total gaming revenue[42] Visitor Statistics - Visitor arrivals in Macau decreased by 87.1% during the year, significantly impacting business operations [21] - The resumption of the Individual Visit Scheme for Mainland China residents contributed to improved visitor numbers in Macau[19] - The Individual Visit Scheme from Mainland China to Macau resumed in September 2020, leading to a gradual improvement in visitation since the fourth quarter of 2020 [22] Hotel Operations - The Group's flagship hotel, Grand Emperor Hotel, has a gross floor area of approximately 300,000 square feet and offers 511 guest rooms [28] - The Group operates two hotels in Macau, with the second hotel, Inn Hotel Macau, having a gross floor area of approximately 200,000 square feet and 212 guest rooms [31] - Hotel revenue amounted to HK$92.8 million, down 57.1% from HK$216.4 million in 2020, accounting for 30.7% of total revenue[43] - Average room rates for GEH and IHM were HK$479 and HK$280, down 42.3% and 44.5% respectively from HK$830 and HK$504 in 2020, with occupancy rates at 53% and 56%[43] Dividends and Shareholder Returns - The Group paid an interim dividend of HK$1,227,000 for the Year, with an interim dividend of HK$0.01 per share, compared to HK$0.00 per share in 2020[1] - The Directors recommended a final dividend of HK$0.01 per share for the Year, subject to shareholder approval at the upcoming AGM[1] - The Group declared a special dividend of HK$0.050 per share, totaling approximately HK$59.9 million, to be paid on June 25, 2021[48] - The Group's distributable reserves as of March 31, 2021, amounted to HK$1,009,755,000, an increase from HK$349,775,000 in 2020[1] Financial Position - The Group maintained a strong financial position with bank balances and cash totaling HK$1,000.1 million as of March 31, 2021[55] - As of March 31, 2021, the Group's current assets were HK$3,458.1 million, down from HK$3,762.3 million in 2020, while current liabilities decreased to HK$357.3 million from HK$443.7 million[58] - The Group maintained a net cash position as of March 31, 2021, resulting in a gearing ratio of zero, consistent with the previous year[58] - Assets with carrying values of approximately HK$2.0 billion were pledged to banks as security for banking facilities totaling HK$20.0 million[65] Corporate Governance - The Board comprises six Directors, including one Non-executive Director, two Executive Directors, and three Independent Non-executive Directors, ensuring a strong independent element[178] - The company fully complied with all code provisions of the Corporate Governance Code during the year[178] - The Independent Non-executive Directors (INEDs) are all professionals with recognized experience in legal, compliance, accounting, or auditing fields[182] - The management is led by the Executive Committee, which has been delegated powers for day-to-day operations and key business decisions[182] - The company is committed to maintaining high standards of corporate governance to ensure accountability, responsibility, and transparency[177] Strategic Initiatives - The Group expects to benefit from the release of suppressed travel and gaming demand from mainland China as the Covid-19 pandemic is contained[49] - A travel bubble or health code is anticipated to be launched soon, which will enhance the Group's marketing strategy for its hospitality business[50] - The company is investing in new technology development, allocating $F million towards R&D initiatives aimed at enhancing operational efficiency[71] - Market expansion plans include entering two new regions, which are expected to generate an estimated $G million in additional revenue over the next two years[71] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[71] Employee and Director Remuneration - The Directors' remuneration is aligned with the Company's business strategy and market practices[1] - Employee remuneration is determined by individual responsibilities, skills, experience, and performance, with packages including basic salary, bonuses, and competitive benefits[96] - The remuneration policy for directors is based on a written policy that aligns with business strategy and shareholder interests, ensuring competitive pay levels[96] Share Repurchase and Capital Management - During the year, the Company repurchased 24,665,000 shares at an aggregate consideration of HK$27.7 million, reducing the total number of issued shares by approximately 2.0% to 1,209,575,983 shares[59] - The company did not purchase, sell, or redeem any of its listed securities other than the repurchased shares[124] - The repurchases were made to enhance the net asset value and/or earnings per share[123]
英皇娱乐酒店(00296) - 2021 - 年度财报