PH Resorts said its net loss in the nine months to end September widened to PHP336.4 million from PHP266.0 million a year earlier, primarily due to the ramp up of construction activity for its Emerald Bay resort on Mactan island.
Maybank associate director Samuel Yin Shao Yang has raised its estimate for Genting Singapore's 2020 EBITDA by 425 percent after the operator turned a surprise profit in Q3.
The gaming division of Travellers International Hotel Group, the owner and operator of Resorts World Manila, has reported an attributable net loss of PHP1.7 billion US$35 million) for the third quarter of 2020.
While the green shoots of recovery are still far from becoming a forest, the raft of earnings reports from Asia’s operators on Tuesday all gave grounds for optimism that recovery is taking root.
Kangwon Land, the only casino in South Korea open to locals, said its sales in Q3 rose 121% from the prior quarter and its loss narrowed, though both metrics were in sharp deterioration compared with the prior year.
Paradise Co. said its quarterly loss narrowed to KRW31.9 billion won ($28.5 million) from the prior quarter when it posted a loss of KRW48.6 billion, while its Paradise operating unit turned EBITDA positive in the period.
Bloomberry Resorts, whose Solaire Resort & Casinos is only operating on a dry run basis for long-term hotel guests and select invitees, said it was close to EBITDA breakeven in the quarter, even as revenue fell 76 percent from the prior year.
Asia Pioneer Entertainment said its revenue in the nine months to end September fell 26.8 percent to HK$39.1 million and it posted a loss for the period of $23.5 million compared with a loss of $2.7 million a year earlier.
Sega Sammy Holdings has reported that its overall sales fell by 33.4 percent year-on-year to JPY110.2 billion (US$1.1 billion). The group posted an operating loss of JPY3.1 billion for the quarter.
Melco Resorts & Entertainment posted a Q3 operating loss of $275 million, compared with a profit of $175.2 million in the same period a year earlier, while revenue tumbled 85 percent.