Palasino Holdings saw 7% year-on-year revenue increase in FY2024
The Hong Kong-listed group saw growth in its gaming revenue and hotel and services-related earnings, but also significant expenses in its online gaming sector.
Palasino Holdings, Hong Kong-listed group and owner of three casinos in the Czech Republic, plus several hotels across Germany and Austria, has recently announced its FY2024 results.
The group saw a 7% year-on-year revenue increase compared to FY2023, with gaming revenue sitting at HK$402m (US$51m), compared to last year’s HK$390m; revenue from hotel, catering, leasing and related services amounted to HK$162m, compared to last year’s HK$139m.
Total revenue was HK$564m, compared to last year’s HK$529m.
However, the group has also accrued several one-off expenses (HK$32m) and online gaming expenses (HK$21m), which amounted to approximately HK$53m in total expenses. This affected its EBITDA, which remained at HK$85m without change from last year’s.
Palasino Holdings is the subsidiary of FEC, also a Hong Kong-listed company. The group holds an online gaming operations licence in Malta and is currently invested in its online gaming sector.
The recent deal with XSGames and a partnership with GiG in 2023 shows the effort. This also indirectly explained the decision for its online gaming-related expenses.
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