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NagaCorp announced on Sunday that it has been permitted to reopen for full business, effective immediately, including mass market services. The company had applied to...
Mainland Chinese may still have a thirst for travel post the Covid-19 pandemic, but views are divided as to how much disposable income they may have to spend, especially in the region’s casinos.
Melco Resorts & Entertainment swung to a loss in Q1 due to the impact of the coronavirus, but said it remains committed to its development plans, including a bid for a license in Japan.
Bloomberry Resorts said its Q1 net income fell 38 percent due to the impact of the coronavirus and it expects a slow recovery.
Macau’s gross gambling revenue is likely to fall 37 percent in 2020, before rebounding strongly next year, and Galaxy Entertainment stands out as the “least risky” gaming company, Bernstein Research said in a note.
Imperial Pacific International reported a more than 77 percent drop in 2019 revenue and a wider loss as its VIP business dried up.
Macau gross gambling revenue is likely to bounce back with an increase of 55 percent next year and Galaxy Entertainment is one of the best-placed stocks in the longer-term growth story, Bernsten Research wrote in a note.
SJM Holdings posted a 12.5 percent gain for 2019 and said it was in a solid position to weather the challenges posed by the Covid-19 outbreak.
With Macau continuing to haemorrhage VIP gamblers, there has never been a greater onus on operators in the special administrative region to latch on to the relative predictability afforded by the premium and mass markets.
Melco Resorts and Entertainment reported its 2019 fourth-quarter results on Thursday, which was driven mainly by strong performance in its mass-market segment. Total operating revenues...