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Imperial Pacific International is seeking permission to form a restricted account, instead of posting a bond, that will allow it to maintain cash flow to pay employees on time, according to local media reports.
Nine listed gaming operators in the Asia Pacific region are likely to see a plunge of about 70 percent in EBITDA this year, but all should have sufficient cash to cover basic needs for the next year, Moody’s Investors Service said.
Fitch Ratings has downgraded Universal Entertainment’s credit rating due to the impact of the coronavirus on the gaming industry and said it expects the group’s Okada Manila property to post a 70 percent drop in Q2 revenue.
Macau’s six operators have enough liquidity for the next six months before they are likely to need to draw on debt financing, Bernstein Research reported.
Rating agency Fitch Ratings said it expects the coronavirus to have a significant cash flow effect on Macau casinos as governments’ precautionary measures continue. However,...
Genting Malaysia has issued a statement defending its proposed acquisition of Empire Resorts saying the combination is in the best interests of both companies’ shareholders.
NagaCorp says 90 percent of its $3.5 billion Naga 3 property will consist of non-gaming amenities, with a strong focus on high-tech elements.
South Shore Holdings, operator of The 13 ultra-luxury hotel in Macau, reported that its loss for the year to end-March rose to HK$5.84 billion ($742 million) from $1.57 billion the prior year.
Amax International said it expected to report an “obvious increase” in its loss for the year to end-March 2019, although it stressed the shortfall is due to one-off impairments that don’t affect the cash flow of the business.
MGM Resorts International said its board has created a committee to study ways to extract more value out of its real estate portfolio.
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