Lan Kwai Fong casino hotel boosts China Star

 

China Star Entertainment Ltd. said it expects to report a profit for the first half of 2013 of 40 percent to 50 percent higher than the HK$42.1 million ($5.4 million) in earnings it reported a year earlier thanks to income and revenue gains at the Lan Kwai Fong casino hotel. The company credited the gains to its “effective marketing plan”. It added however that it would take a larger writedown on its investment in a VIP room at the Grand Lisboa casino due to a “decrease in profit streams”. Last year it took a HK$7.3 million write down on that investment, versus HK$73.8 million in 2011.