Loss comes at a time when Macao’s casinos were forced shut and partial lockdown was put in place by government to tackle Covid-19 outbreak that started on 18 June.
All six concessionaires united in praise for the government and optimism for the future of Macao’s economic mainstay.
Group claims to be in good financial shape, with total liquidity of HK$12 billion, remains confident about retendering and supporting government tourism goals.
Group reports good results with net revenues reaching HK$19.7 billion; hopes to open Phase 3 hotel and convention centre in Cotai by early 2023 latest.
Group’s president expects upsurge of interest in premium mass market, praises government’s handling of tender process.
All six operators united in their appreciation of the proposed changes, undertake to cooperate fully with the government.
Macao’s gaming operators also take a hit for the second day, suffering losses of up to 6.5% following Suncity CEO Alvin Chau’s arrest at the weekend.
With total liquidity of HK$13.4 billion, casino operator stresses its healthy financial position, looks forward travel restrictions easing.
Move by gaming operators follows government initiative for public workers; staff who fail to comply face ‘employment consequences’.
Jitters caused by plans to put government officials on boards and criminalise underground banking.
MGTO and three resort operators commended for bold initiatives which will help get the city’s tourism industry back on track.
US gaming company’s two hotels put in sterling performance, attributing success to premium mass market.
Late casino magnate’s daughter sells off another MOP 460 million in MGM shares, prior to what insiders say is likely a return to the family business.
Macao gaming operator MGM China announced Friday that its net revenues decreased by 94% year-on-year to US$47 million in the third quarter.
MGM China’s net revenues fell 95 per cent year-on-year to US$33 million (MOP 261 million) in the second quarter of this year, the Hong Kong-listed US gaming operator said in a statement today.
Hong Kong-listed gaming operator MGM China reported today an adjusted negative EBITDA of HK$0.1 billion for the first quarter.
MGM China said in a statement to the Hong Kong Stock Exchange that its total revenue grew by 22% year-on-year to HK$5.8 billion.
Executive Director Grant Bowie said yesterday that the company would keep working hard, do the best that it can and focus on the local community during the current China-US trade war.
Macau’s government has extended gaming concessions for two casino operators to align expiry dates with the four other concessionaires.
MGM China Holdings Limited said its H1 revenue rose 30 percent, helped by the February opening of its new Cotai resort.
MGM China said in a statement to the Hong Kong Stock Exchange Tuesday that its net revenue rose 3 percent year on year to US$2.0 billion (16 billion patacas) last year.
MGM China announced on Thursday in a statement to the Hong Kong Stock Exchange that its net revenue fell 33