Hong Kong’s Far East Consortium International Ltd says it has been granted an online gaming license in Malta as it looks to expand its gaming interests in Europe.

The update was part of the announcement of the company’s interim results for the six months to 30 September 2022, which saw revenue from gaming operations rise 70.5% year-on-year to HK$147 million (US $ 18.8 million).

Far East operates three casinos in the Czech Republic under its wholly-owned subsidiary Trans World Corporation (TWC) – all located along the borders with Germany and Austria. All three casinos were rebranded as “PALASINIO” earlier this year.

It also owns 4.99% of Australia’s Star Entertainment Group shares and is a 25% partner, along with Chow Tai Fook (25%) and Star (50%) in the AU$ 3.6 billion Queen’s Wharf Brisbane an integrated resort development, due to open in 2023.

While information about its online gaming ambitions is limited, the Far East said that TWC has been granted an online casino license in Malta “to offer its services to more guests.”

This is after gaming revenue increased due to the reopening of its three casinos in mid-2021. As a result, table game revenue rose from HK$19 million (US$2.4 million) in 1H22 to HK$35 million (US$4.5 million) while table game revenue increased from HK$54 million (US$6.9 million) to HK$89 million (US$11.4 million). ).

The group did not receive a dividend in respect of its 4.99% stake in The Star Entertainment Group.

Group-wide, Far East – whose core business is property development – ​​reported a 3.0% drop in revenue to HK$3 billion (US$384 million) in 1H23 with profit falling by 46.7% to HK $ 571 million (US $ 73 million) due to “less. residential property development [being] completed and settled compared to the same period last year.”