FEC posts gaming revenue for the first time

Far East Consortium, owner of Trans World Corporation and investor in The Star Entertainment Group, has added gaming operations as a reportable segment in its latest financial report.

Revenue from gaming operations came in at HK$148.9 million (US$19 million) in the six months ended September 30, while segment profit was HK$85 million.

FEC acquired 45.8 million shares in The Star in March, which has started to generate dividend income, while the company acquired TWC in April 2018 as part of a US$42 million merger. TWC runs a casino and hotel business in Europe.

Outside of gaming, FEC is also involved in the property sale business, hotel operations and management and car park operations.

Consolidated revenue reached HK$2.97 billion, up 6.8 percent in the six months ended Sept 30, while profit for the period fell 39.3 percent to HK$635.5 million.