Home Q2 results
Malaysian supplier RGB International swung to a loss in Q2 as Covid-19 forced the closure of its servicing centres and it sold fewer products.
Bloomberry Resorts & Entertainment said it’s pushing forward with its project to build a second IR in Quezon City, as it believes the opening will coincide with a significant rebound post the crisis.
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.
Paradise Co., which operates foreigner-only casinos in South Korea, posted a wider Q2 loss although revenue gained.
Travellers International Hotel Group posted an almost 52 percent drop in Q2 net profit as costs rose and a one-time gain reported last year wasn’t repeated, though revenue growth was strong.
Macau’s six casino operators will begin reporting Q2 results later this month, with analysts expecting a mixed bag. Though operators say they are seeing signs of stabilization in the market, that is unlikely to be reflected in the bottom line, at least for now. The consensus is that revenues and EBITDA will fall from the prior quarter and will hit the lowest level in five years.