Core Viewpoint - The news highlights the significant fluctuation in the stock price of Emperor Entertainment Hotel (00296), which saw an increase of nearly 18% at one point, settling at a 7.72% rise to HKD 0.265, with a trading volume of HKD 588,700. This movement is linked to the recent developments regarding the hotel's gold assets and their sale [1]. Group 1: Gold Asset Developments - Reports indicated that the iconic "Golden Avenue" at the Macau Emperor Entertainment Hotel, which contained a total of 78 kilograms of gold embedded in the floor tiles, has seen the gold disappear, allegedly removed by staff overnight [1]. - Hotel staff confirmed that the 78 kilograms of gold was indeed removed on January 29, but stated that the reason was related to internal renovations and not due to gold price fluctuations. The gold is expected to be displayed again after the renovations are completed [1]. - On February 4, Emperor Entertainment Hotel announced that its non-wholly owned subsidiary, Right Achieve Limited, sold a total of 79 kilograms of gold bars to Heraeus Metals Hong Kong Limited for approximately HKD 99.7 million. The sale was deemed a good opportunity to realize and release the value of the precious metals, while also saving on security and insurance costs associated with the gold [1]. Group 2: Financial Implications - The gold bars sold will be recorded as property, plant, and equipment at cost by September 30, 2025, with a book value of approximately HKD 9.4 million [1].
港股异动 | 英皇娱乐酒店(00296)一度涨近18% 出售合共重79公斤的多块金砖 涉资约9970万港元