Palasino Holdings Ltd has reported higher annual revenue in its latest financial year, supported by the launch of a new casino property in the Czech Republic, although rising operating costs and investment spending weighed on profits.
For the financial year ending March 31, 2026, the Hong Kong-listed gaming operator recorded total revenue of HK$611.1 million (US$77.9 million), an increase of 7.6% compared to the previous year. This growth was largely due to the addition of its new venue, Palasino Mikulov, as well as an increased emphasis on gaming operations within the group’s portfolio.
Despite stronger net profit, net profit attributable to shareholders fell to HK$13.8 million (US$1.76 million), down 10.4% compared to last year. However, the company reported improvements in underlying performance metrics, with adjusted net profit increasing 35.7% and adjusted EBITDA increasing 15.6% to HK$60.7 million.
Operational costs associated with expansion played a significant role in the weak net results. Palasino cited higher employee-related costs of HK$13.5 million, in addition to additional hiring for the new Mikulov casino. The company also continued to spend on marketing and brand development across its core markets, despite a decline in online gaming-related costs.
Gaming is driving a shift in revenue mix
The group’s financial results show a continued shift towards gaming as its dominant source of revenue. Following Palasino Mikulov’s launch phase, gaming activity accounted for approximately 73.3% of total revenue, up from 72.0% in the previous financial year. The non-gaming segment, including hotels, food and beverage, conferences and related services, decreased proportionally to 26.7%.
As reported by Inside Asian Gaming, citing the company’s official report (pdf), Palasino described this trend as evidence of its broader strategic direction, with resources increasingly concentrated on gaming operations as a key driver of performance. Table games and slot machines are major contributorssupported by stronger visitation levels and ongoing promotional activity.
The company also recorded an increase in tax-adjusted gaming revenue, which increased 9.9% year-over-year, reflecting continued momentum across its casino network.
Mikulov’s launch strengthens the Czech footprint
A major development during the reporting period was the introduction of Palasino Mikulov, located near the Czech-Austrian border. The property had a soft launch in December 2025, followed by an official opening in March 2026, and has since become a key part of the group’s European strategy.
Initial operations include more than 100 slot machines and a variety of table games, with expanded facilities part of a phased expansion plan. Management has outlined plans for a second phase of expansion, aimed at increasing capacity and enhancing the resort’s overall offering.
Palasino stated that this new casino represents an important milestone in its long-term developmentstrengthening its position in the land-based gaming market in the Czech Republic and supporting broader regional competitiveness.
Focus on capital and operational investment
During the current financial year, the group allocated capital expenditure of HK$33.6 million for the launch of Mikulov properties, alongside wider investments in its existing portfolio. Total cash and liquid assets reached HK$271.6 million at the end of the reporting period, reflecting a decline of 8.8% year-on-year, primarily due to expansion-related spending.
Marketing costs have also increased as part of Mikulov’s launch, with the company continuing to invest in brand awareness initiatives aimed at attracting European tourists to its properties.
Management highlighted that the group remains focused on improving gaming facilitiesincreasing space utilization, and improving hospitality and conference services across its operations in the Czech Republic, Germany and Austria.
Looking ahead, Palasino hinted at continued investment in organic expansion and potential acquisitions in its gaming portfolio. The company expects continued development of its Czech operations, in particular through the next phase of expansion in Mikulov.
While macroeconomic conditions in Europe have been described as challenging, the group stated that demand for value-based entertainment experiences has supported resilience in its gaming business.
Management also reiterated that slot machine investments and expansion of electronic gaming terminals remain core to its long-term growth strategy, with a focus on increasing visitation and strengthening revenue stability across its properties.
