Palasino Holdings, a Hong Kong-listed group that owns three casinos in the Czech Republic and hotels in Germany and Austria, recently announced its fiscal 2024 results.
The group’s revenue increased 7% year-on-year compared to FY2023, with gaming revenue of HK$402 million (US$51 million) compared to HK$390 million last year, and hotel, catering, rental and related services revenue of HK$162 million compared to HK$139 million last year.
Total revenue was HK$564 million, compared to HK$529 million in the same period last year.
However, the group also accrued several one-time expenses (HKD 32 million) and online game expenses (HKD 21 million), with a total expense of approximately HKD 53 million, which affected the group's EBITDA, which was still 8,500 compared with last year. Ten thousand Hong Kong dollars, no change.
Palasino Holdings is a subsidiary of FEC, which is also a Hong Kong-listed company. The group holds an online gambling operating license in Malta and is currently investing in its online gambling sector.
The recent deal with XSGames and a partnership with GiG in 2023 are indicative of this effort. This also indirectly explains its decision to charge fees related to online gaming.
