China Star wins with Lan Kwai Fong mass tables

Profits from the Hotel Lan Kwai Fong Macau for owner China Star Entertainment Ltd. rose 70.3 percent to HK$136.6 million ($17.6 million) as revenues rose 21.1 percent to HK$631.7 million driven by gains from mass market tables. Revenues from the company’s investment in a VIP room operated by Ocho Sociedade Unipessoal Ltd. in the Grand Lisboa casino fell 57.4 percent to HK$3.69 million and the company took a HK$41 million writedown on the operation. China Star said Ocho has been losing customers and sub-junkets attracted to “other large and well-equipped new hotels and casinos”. Service revenues from VIP tables in the Lan Kwai Fong also fell 24.9 percent however to HK$73.9 million while mass table service revenues rose 34.1 percent to HK$482.7 million.