Home cost cutting
Genting Malaysia is asking staff to take temporary pay cuts of between 15-20 percent as it seeks to cut costs amid ongoing Covid shutdowns, Bloomberg reports citing an internal memo.
Galaxy Entertainment posted a $943 million ($121.6 million) adjusted EBITDA loss in Q3, narrowing from a loss of $1.37 billion in the prior quarter, helped by cost cutting. Revenue fell 88 percent year-on-year.
Donaco International said it has seen “significant progress” in moves towards reopening borders in Southeast Asia and its two casinos will be ready to resume operations as soon as the situation warrants.
Ainsworth Game Technology is the latest supplier to point to progress in its online offerings, as Covid-19 hits the land-based side of the business.
Covid-19 has forced a fundamental rethink of the food and beverage (F&B) industry in order to survive, with one of the most popular features of dining in Asia -- the buffet -- potentially becoming a sacrificial lamb.
Genting Singapore is seeking to cut costs by about 20 percent to 30 percent after suffering its worst quarterly loss since it opened Resorts World Sentosa.
Genting HK said it’s delaying the delivery of two new ships by about a year and cutting other costs to mitigate the impact of the Covid-19 pandemic.
Morgan Stanley said it now expects Macau's 2020 gross gambling revenue (GGR) to fall 60 percent, compared with its earlier forecast for a 55 percent decline, though has raised its forecasts for recovery for the next two years.
Macau’s six operators are likely to post the worst quarterly performance ever in Q2, with the focus likely to be on who has done the most to control operating expenditures during the period, Morgan Stanley reports in a note.
Paradise Co. is shifting gears and will implement emergency cost-cutting measures, including sending more executives on furlough and closing down operations at key facilities. According...
12Page 1 of 2