In a communication sent to the stock market on Wednesday, the Emperor Group explained that this decision is linked to the cessation of casino operations at the hotel and their intention to renovate and repurpose the lobby. The gold bricks, which were part of the interior design and décor, “are no longer relevant to the hotel’s future theme,” though the company has not detailed what the new concept will be.
The group indicated that it is actively planning to introduce new entertainment and leisure offerings to enhance the overall hospitality experience and broaden its revenue base. It was also noted that the high value of the gold posed significant security and insurance costs, factors that contributed to the decision to sell them.
The satellite casino at the Emperor Hotel, which operated under SJM’s concession, closed at the end of October last year, significantly impacting the operator’s revenue.
The gold bricks were purchased by Heraeus Metals Hong Kong Limited. According to the Emperor Group, the net proceeds from the transaction will strengthen the group’s financial position, enabling it to pursue new investments whenever suitable opportunities arise.
