Macau casino investor Success Universe Group Ltd has informed shareholders and potential investors that it expects to record a consolidated loss after tax for the year ended Dec. 31, 2015, according to a filing to the Hong Kong Stock Exchange on Feb. 1.
The loss is compared with an audited consolidated profit after tax for the previous year of about HK$73.5 million ($9.4 million).
According to the company, the decline in consolidated results was a result of losses relating to Ponte 16, the flagship investment project of the group, a decrease in operating revenue at the group’s lottery business and a segment loss for the first eleven months ended Nov. 30, 2015.
The final results for the group for the year ended Dec. 31, 2015 are expected to be published in late Mar. 2016.
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.
Predicting a spike in Covid-19 cases in January, Goa state Health Minister Vishwajit Rane has appealed to tourists to take precautions and to observe government appeals to wear masks and practice social distancing.
Operators in Entertainment City had already begun to complain about the impact of rising competition on their margins even prior to the Covid-19 crisis. Now, with the outlook highly uncertain due to border closures and the erosion of the VIP sector, they may have to contend with three new developments pressing ahead.
Wynn Resorts and Nordaq have pioneered the installation of the Nordaq 2000 Refilling System, which is able to meet demand for bottled water in integrated resorts. Wynn says it's the first in Macau to adopt such a system.
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.