Stay updated with breaking news from கெல்ஸீ ஜு. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Casino operator Melco Resorts and Entertainment Ltd posted a net loss of US$232.9 million for the three months to March 31, an improvement on the US$364.0-million loss recorded a year earlier. The result was however worse than the US$199.7-million loss reported in the fourth quarter of 2020, according to a Wednesday filing to Nasdaq. Melco Resorts run gaming operations in Macau; in Manila, in the Philippines; and in the Republic of Cyprus. The company’s total operating revenues for the period between January and March were US$518.9 million, down slightly from the US$528.0-million revenue achieved in the fourth quarter 2020. Such revenue was down 36.0 percent from US$811.2 million in the prior-year period. ....
GGRAsia – Macau tourism has lower value gaming clients: brokerage ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
Macau casino operator Sands China Ltd says its adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) more than doubled in the first three months of 2021 from the preceding quarter, mostly due to a rebound in premium-mass revenue. The Macau unit of United States-based gaming group Las Vegas Sands Corp saw its adjusted property EBITDA hit US$100 million in the first quarter, compared to US$47 million in fourth-quarter 2020. The first-quarter figure was 49.3-percent higher than a year earlier. Hong Kong-based analyst Andrew Lee of Jefferies LLC, said in a Thursday note that Sands China’s EBITDA had improved sequentially in the first quarter, to the “highest level since the pandemic started, and higher than both our and consensus estimates”. ....
GGRAsia – Macau gaming demand recovering comfortably: analysts ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
Macau casino gross gaming revenue (GGR) for the first six days of April was flat compared to the prior week, despite visitor volumes increasing over the period, estimates brokerage Sanford C. Bernstein Ltd in a Wednesday memo. The full-month GGR for April could contract in the “high 50s percent” when compared to the pre-pandemic period in April 2019, added the institution. Macau’s average daily rate (ADR) of GGR for April 1 to April 6 was MOP250 million (US$31.2 million), which had “remained flat” compared to the prior-week ADR of MOP246 million. The ADR for the first six days of this month was down 7 percent from March’s daily average, and was also down 68 percent when compared to April 2019, the brokerage said. ....