GEG Chairman Lui Che Woo says company has healthy balance sheet with cash and liquid investments of US$2.9 billion and net cash of US$2.5 billion as of 30 September.
EBITDA
Loss up 70% year-on-year while company’s EBITDA suffers US$65.6 million loss; Wynn Resorts CEO blames Covid-related travel restrictions.
Gaming operator’s EBITDA in third quarter negative HK$535.5 million; total revenue HK$687 million, down 37.54 per cent from second quarter.
Melco generated negative Adjusted Property EBITDA of US$34.9 million on this year’s third quarter; CEO optimistic about e-visas being issued to mainland Chinese visitors.
Chairman Lawrence Ho says results at City of Dreams, Studio City and Altira impacted by Covid-19 and restrictions imposed across mainland China.
Group’s future performance may be impacted by further Covid-19 outbreaks, despite balance sheet showing net cash of HK$20.3 billion.
Company refinanced its syndicated banking facilities last month, with HK$9 billion term loan and HK$10 billion revolving credit.
Chairman Lui Che Woo points to solid balance sheet of HK$24.5 billion in cash, looks forward to Macao’s future recovery.
CEO Craig Billings stresses company remains confident and market will bounce back once travel restrictions are relaxed.
