Palasino Holdings (2536) H1 2026 earnings summary

Executive summary

• 1H FY2026 revenue rose 8% YoY to HK$305.2m; net revenue after gaming tax increased 7% to HK$225.5m, while profit fell to HK$11.6m from HK$15.7m.

• Adjusted property EBITDA declined 11% to HK$38.8m from HK$43.6m; total comprehensive income rose to HK$48.8m from HK$24.8m, mainly on translation differences.

Financial highlights

• Operating expenses rose 8% to HK$210.1m; employee benefits increased 10% to HK$104.4m and depreciation and amortisation increased 35% to HK$15.5m.

• Profit before tax was HK$16.9m versus HK$21.9m; adjusted net profit was HK$11.6m versus HK$15.1m, and basic and diluted EPS were HK1.44 cents versus HK1.95 cents.

• Adjusted EBITDA was HK$31.2m versus HK$30.4m; no interim dividend was recommended.

Outlook and guidance

• Palasino Mikulov, the fourth Czech casino, is scheduled to open in late December 2025, subject to final government approval, and no later than Q4 FY2026.

• Cautious outlook amid global economic volatility; priorities include cost control, monetisation and improvement programs for hotel, catering and leasing operations.

• Measures include suspending food and beverage service during non-peak hours, centralising procurement and reallocating resources; gaming expansion opportunities are being pursued through acquisitions or new licence bids.