Sands China reported a net loss of US$562 million in Q3, with net revenues falling 92.1% year-on-year to US$167 million. Group-wide operating losses were US$610 million with an 82 percent decline in net revenues.
There’s little current upside seen for the stock price of the sprawling Genting Group empire, with both the parent company and its Genting Malaysia unit at risk of losing their place on the benchmark FBM KLCI index.
The Macau government has received MOP299 million (US$48.8 million) in taxes on commissions paid by casinos to junket operators in 2019, a 24 per cent year-on-year drop, according to the last year’s budget execution report.
The simplification of visa procedures for Chinese visitors is key to drive a more robust recovery in Macau, where this year’s Golden Week figures proved disappointing, according to a note from Bernstein Research.
NagaCorp said the momentum it has seen on its gaming floors since reopening to the public in August appears to have been sustained through to end September, led by the mass market.
Russian President Vladimir Putin has signed a bill into law that will require casino operators to step up their identification of patrons in a bid to improve tax revenue.
Ainsworth Game Technology said it will prudently invest in research and development to position itself for a long-term post-pandemic recovery.
Bloomberry Resorts is expected to break even on an EBITDA level by Q4 due to cost cuts and support from the local market, according to analyst Michael Ting, who publishes on Smartkarma.
Ha Tien Vegas is the latest of Cambodia’s casinos to restart, with plans to open its doors from Friday, September 18th.
Dream Sports, the parent company of Dream11, has secured new funding worth $225 million, valuing the fantasy league company at $2.5 billion.