Macau’s recovery from the novel coronavirus (Covid-19) remains a slow one, as casinos on the island brought in only MOP1.33bn (£124.4m/€139.5m/$167.0m) in August, down 1.0% from July and down 94.5% from 2019.
Casino junket and integrated resorts operator SunCity Group has reported a 69.5% year-on-year decline in revenue for the first half of 2020, though fair value gains related to its convertible bonds significantly reduced the business’ net loss for the period.
Macau integrated casino resort Studio City International Holdings has posted a $161.9m net loss for the first half of the year as its operations were severely hit by the novel coronavirus (Covid-19) pandemic.
Sands China, Las Vegas Sands’ Macau-based integrated resorts subsidiary, saw revenue plummet 81.0% year-on-year in the six months to 30 June, with visitor numbers plummeting due to travel restrictions to the Chinese special autonomous region.
Asian casino operator Galaxy Entertainment Group (GEG) saw revenue for the six months to 30 June drop 76.3% with the operator expecting further headwinds from the ongoing impact of novel coronavirus (Covid-19) on its Macau venues.
Casino operator Wynn Resorts has reported a net loss of $1.04bn for the first half of the year, after the novel coronavirus (Covid-19) pandemic forced the temporary closure of its venues in the US and Macau.
Macau casino operator SJM Holdings has admitted that gross gaming revenue, as well as non-gaming amenities will be negatively affected by novel coronavirus “for an indefinite period”, after reporting an HK$1.41bn loss for the first half of 2020.
Land-based gaming giant Las Vegas Sands saw revenue fall 73.1% year-on-year for the six months ended 30 June, 2020 after Q2 revenue collapsed to almost zero due to the novel coronavirus (Covid-19) pandemic.
China’s Guangdong province has announced that a mandatory 14-day quarantine for all people entering from Macau will be lifted this week, as restrictions designed to prevent transmission of novel coronavirus (Covid-19) are eased.
Macau’s gaming revenue sunk to yet another new low of MOP716m (£72.2m/€79.8m/$89.7m) in June, down 97.0% year-on-year, as the effects of the novel coronavirus (Covid-19) pandemic continues to devastate the territory’s largest industry.
Disruption caused by novel coronavirus (Covid-19) has badly hit Las Vegas Sands’ Sands China subsidiary, with the business revealing that revenue for April plummeted 98.7% year-on-year to just $9m in April.
Casinos in Macau took in revenue of MOP1.76bn in May, more than double revenue for April but down 93.2% year-on-year, as the novel coronavirus (Covid-19) pandemic continued to have a major impact on business.
Casino operator Wynn Resorts has put a net loss of $402.0m in the first quarter primarily down to the temporary closure of its sites in the US and Macau due to the novel coronavirus (Covid-19) pandemic.
MGM Resorts’ revenue fell 29.1% to $2.25bn for the first quarter of 2019 due to the effects of the novel coronavirus (Covid-19), but the operator’s profits skyrocketed due to sales of two of its properties.
Macao’s head of government, chief executive Ho Iat Seng has criticised the country’s “excessive dependence” upon the gambling industry, which he said meant the special administrative region was especially hard-hit by the novel coronavirus (Covid-19) outbreak.