MGM Resorts’ third quarter results revealed a net loss widening to US$534.7 million, a figure that was worse than what some analysts had predicted. MGM China reported an Adjusted EBITDA loss of HK$730.6 million (US$94 million) during the same period.
Bill Hornbuckle, CEO of MGM Resorts International, stated, “We remain focused on responding to the pandemic with effective health and safety protocols. We have modified our operating model to adapt to the current environment and we are executing on our long-term growth initiatives, particularly in US sports betting and iGaming, where BetMGM has gained significant momentum.”
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Covid-19 forced the rapid and unexpected closure of venues across Australia, changing the operating environment with unprecedented speed and leaving managers scrambling to adapt...
Osaka Governor Hirofumi Yoshimura has indicated that his government will not make a final decision on its operator consortium partner until autumn 2021. At present, only the MGM-Orix consortium is an accepted bidder.
The Philippines has barred entry to 19 countries, including Japan, Hong Kong and Singapore, to help prevent the introduction of a new strain of the Covid-19 virus, recently discovered in the U.K.
The Macau government has imposed a mandatory 14-day quarantine for all arrivals from Dalian city in Liaoning province, its Novel Coronavirus Response and Coordination Centre said.
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.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.
Before the Covid-19 crisis, tourism in the Greater Mekong Sub-Region was at a record high, on track to welcome 80 million visitors in 2019, generating some $90 billion in revenue.
