Junkets, VIP investors report mixed results

 

China Star Entertainment Ltd. reported a return to profit, with earnings of HK$94.5 million ($12.2 million), up from a loss of HK$632.7 million a year earlier. The company was helped by better results from its VIP room at the Grand Lisboa casino and its Lan Kwai Fong casino hotel. Neptune Group Ltd, another VIP room investor, reported half-year profits rose 33.5 percent from a year before to HK$306.6 million. Rival Asia Entertainment & Resources Ltd., however, reported that earnings for the fourth quarter fell 38 percent to HK$10.1 million because of an unusually low win rate in November and December and lower VIP chip turnover. Paradise Entertainment Ltd., which supplies gambling machines, said its net profit climbed to HK$143.3 million from HK$39.3 million.