Mei Ri Jing Ji Xin Wen·2025-11-05 11:43Core Viewpoint - The recent closure of the Emperor Palace Casino in Macau marks a significant shift in the operations of Emperor Entertainment Hotel and reflects broader challenges within the gaming industry in the region [2][4][6]. Group 1: Company Operations - Emperor Palace Casino ceased operations on October 30, 2023, at 23:59, following a termination agreement between its subsidiary, Tianhao, and AUB [4][6]. - Emperor Entertainment Hotel will continue its hotel business, including properties like the Emperor Jockey Club Hotel in Hong Kong, despite the closure of the casino [8]. - The company reported stable income from hotel and rental apartment operations for the fiscal years ending March 31, 2024, and 2025 [8]. Group 2: Financial Performance - Emperor International reported a total revenue of approximately HKD 1.375 billion for the fiscal year ending March 31, 2025, a 41.5% increase from HKD 972.55 million in the previous year [12]. - However, the company also faced significant losses, with a net loss attributable to shareholders increasing from HKD 2.091 billion to HKD 2.321 billion, marking a 10.9% increase [12]. - As of March 31, 2023, Emperor International had HKD 16.6 billion in overdue bank loans, raising concerns about its ongoing viability [12][13]. Group 3: Market Context - The Emperor Palace Casino was once a prominent player in Macau's competitive gaming market, having opened in January 2006 and generating approximately HKD 1.2 billion in revenue for the fiscal year ending March 31, 2007 [8]. - The closure of the casino is part of a broader trend, as AUB had previously announced its decision to cease operations at several satellite casinos, including the Emperor Palace [4][6]. - The financial struggles of Emperor International have led to significant stock price declines, with shares dropping over 15% following the announcement of its financial difficulties [13].