The long holiday following National Day is expected to bring a surge of visitors to Macao and see gaming revenues come closer to 2019 levels.
Macao casino
CEO Robert Goldstein said he was ‘pleased to see the ongoing recovery now underway in all gaming and non gaming segments progress during the quarter.’
Craig Billings, CEO of Wynn Resorts, said the company was ‘well-positioned for success in Macau’s next phase of growth’.
The company says its performance last year was attributable to the pandemic, but analysts say it will make a strong comeback in 2023.
Although a strong performance, the figure is still well down on the totals registered before the Covid-19 pandemic.
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.
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.
