Tuesday, October 27, 2020

Local government revenues take pounding from Kangwon Land woes

The revenues of local governments in South Korea are being heavily impacted by the long-term suspension of operations at Kangwon Land, triggered by the Covid-19 pandemic, as well as a running dispute over the calculation of how much money the resort is obligated to pay to the abandoned mine fund.

Corona Casino achieved H1 revenues of US$30 million despite pandemic

The Vietnam Ministry of Finance said that despite complicated epidemic diseases in the first half of 2020, the Corona Casino in Phu Quoc achieved revenue of about VND700 billion (US$30 million) and paying taxes of about VND212 billion.

Despite losses, LVS says recovery is well underway

Las Vegas Sands put a positive spin on the future outlook as it reported another quarter of heavy losses triggered by the Covid-19 pandemic.

The Star releases chairman and CEO addresses and trading update

On Thursday morning, The Star issued a trading update combined with the chairman and CEO addresses to the firm’s Annual General Meeting.

Sands China hit with US$562 million loss in Q3

Sands China reported a net loss of US$562 million in Q3, with net revenues falling 92.1% year-on-year to US$167 million. Group-wide operating losses were US$610 million with an 82 percent decline in net revenues.

Tabcorp reports 21Q1 group revenues down 5.7%

Tabcorp Holdings, the Australian racing and wagering firm, has reported 21Q1 group revenues down 5.7 percent as part of its report to its Annual...

Emperor Entertainment issues profit warning

Emperor Entertainment Hotel Ltd. has issued a profit warning for the six-month period ending September 30, noting that the firm expects a consolidated net loss attributable to owners of the Company of not more than HK$160 million (US$21 million).

IMF projections now see 53.5% drop in Macau’s annual GDP

The International Monetary Fund has worsened its outlook estimates for the Macau economy in 2020 and is now predicting a 53.5 percent drop in Gross Domestic Product for this year.

BetMakers reports quarterly cash receipts up 63 percent

BetMakers has reported cash receipts up 63 percent on previous quarter (A$3.9 million versus A$2.4 million) in a filing to the ASX. This is for the quarter ending September 30, 2020.

Sega Sammy Creation reported US$15 million loss in FY2019

According to the official government record, Sega Sammy Creation lost JPY1.56 billion (about US$15 million) in the year ending March 31, 2020.

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