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.
Macao gaming
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.
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.
CEO remains bullish in face of poor results caused by knock-on effects of Covid-19, says demand from customers still robust.
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’.