Company’s revenues in three months to 31 December 2022 dropped by 41.57% year-on-year from US$325.66 million to US$190.26 million.
Macao Casinos
January’s MOP 11.58 billion GGR up by 232.56 per cent month-on-month but around half receipts of MOP 22.12 billion prior to pandemic in January 2020.
Results up 31.6% on September; Macao’s six gaming operators continue to run 37 casinos, but with 32 fewer gaming tables and 345 more slot machines.
Last month’s figure up by more than five times month-on-month as city begins to recover from its worst Covid-19 outbreak and visitor arrivals start to pick up again.
Group’s future performance may be impacted by further Covid-19 outbreaks, despite balance sheet showing net cash of HK$20.3 billion.
Bids, plus MOP 10 million security deposit, must be submitted by 14 September; foreigners’ entry restrictions should cease ‘by year’s end’.
Gaming commission responsible for helping the SAR’s chief executive in analysing and deciding all matters relating to the gaming sector.
US ratings agency predicts 2022 GGR as low as 20% of 2019 levels, recovering slightly in 2023, at time of flux for city’s gaming industry.
Effective 30 September 2022, industry veteran will be leaving Wynn Macau after more than five years to join Australia’s leading gaming group.