Aristocrat Entertainment CEO Trevor Croker said the company plans to “significantly escalate” its focus on convergence products and services, which may involve mergers and acquisitions.
Aristocrat Entertainment CEO Trevor Croker says the company plans to "significantly escalate" its focus on convergence products and has a strong enough balance sheet to support mergers and acquisitions in the sector.
Genting Malaysia reported positive adjusted EBITDA of RM350.3 million for 2020 despite seeing a 56 percent drop in revenue due to the Covid-19 pandemic.
Caesars' Entertainment CEO Tom Reeg responded to an analysts' question on the sale of its Korea venture by saying: "Korea has gone, we sold it for some barbecue pork. We sold it back to our partners and have no more commitment. We're out."
Caesars Entertainment posted a loss for Q4 of $555 million compared with a $13 million profit in the prior year, but said it has seen a pick up in demand in the New Year, especially at its regional properties.
Donaco International, the operators of casinos in Cambodia and Vietnam, said it had positive EBITDA of A$0.2 million in the first half of the fiscal year after the final three quarters of the year generated $2.7million. Revenue declined to $6.3 million from $40.9 million.
International Entertainment said it has hired various advisers to provide a legal opinion on the operation of casinos and gaming activities and to review the company's internal control policies in order to comply with a guidance letter from the Hong Kong Stock Exchange.
Jennifer Song, equity analyst with Morningstar, speaks with Asia Gaming Brief managing editor Sharon Singleton about visitation to Macau during the recent Chinese New Year period and the outlook for recovery. The longer-than-usual May holiday may be a key catalyst for growth.
The last two of Macau’s operators released Q4 results on Thursday, with both returning to profit at the EBITDA-level and expressing confidence in the market recovery.
Melco Resorts & Entertainment said it had returned to positive EBITDA in Q4, although revenue was down 64 percent from the prior-year quarter.