CEO remains bullish in face of poor results caused by knock-on effects of Covid-19, says demand from customers still robust.
Macao casino
11 defendants failed to attend today; Phillip Wong faces fine after claiming to be ill but not providing proof.
Outgoing president Ian Michael Coughlan leaves next February but will continue in advisory role; CEO hails successful transition.
Cash injection comes at crucial stage for Macao’s oldest gaming operator in the run-up to bidding for new concessions.
CEO Lawrence Ho blames poor results on effects of Covid-19 restrictions and tighter border controls.
CEO points to expansion of retail and F&B at Grand Lisboa Palace as investment in Macao tourism and trust in obtaining new concession.
Group claims to be in good financial shape, with total liquidity of HK$12 billion, remains confident about retendering and supporting government tourism goals.
Pandemic blamed for poor results; chief executive adopts bullish stance, pointing to strong demand once travel restrictions are eased.
Workers who once earned MOP 20,000 monthly now scraping by, suffering from depression and contemplating selling off their assets.
