Parent increases stake in Grand Emperor Hotel to 75 percent

Emperor International Holdings, the majority owner of the Grand Emperor Hotel in Macau has boosted its stake in the property by 15 percent, according to a filing.

The HK$460 million deal, announced on the Hong Kong Stock Exchange on Monday, will see Emperor Entertainment Hotel Investment acquiring an additional 15 percent stake in Luck United Holdings Limited, a subsidiary of the company which operates the Grand Emperor Hotel.

The deal will boost Emperor Entertainment’s holdings in Luck United from 60 to 75 percent, which it said is a “tremendous opportunity” to increase its stake at a “deep discount.”

“In recent years, the [Luck United] continued to achieve a stable performance in entertainment and hospitality services in Macau and generate [a] recurrent income stream for Emperor E Hotel and Emperor International.”

Emperor said the acquisition will allow it to expand its investment opportunity, and allow the hotel to utilize its financial resources more efficiently.