The Emperor Entertainment Group on Thursday told the stock exchange it expects to record a net loss of not more than HK$190 million for the year ended March 31, 2021.
Emperor said that most of the loss was recorded in the first half of the year, suggesting the resumption of the Individual Visit Scheme in September had allowed the company to regain a lot of lost ground in the second half.
“As a result of the resumption of Individual Visit Scheme of the mainland China to Macau in September 2020, the visitor arrivals to Macau rebounded and the suppressed entertainment demand was unlocked accordingly, and hence the Group s gaming revenue during the 2H of the Year surged by more than 200% than that of the first half of the Year which amounted to HK$51.1 million,” the company stated.
Macau Labor Affairs Bureau (DSAL) deputy director believes there will be fewer blue-card holders in Macau if the unemployment rate continues to rise. The last time unemployment was this high was around 2009-2011, shortly after the global financial crisis. Chan added that some industries will suffer more than others.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.