Adjusted Property EBITDAR loss much greater than US$5 million in last quarter of 2021 but better than US$70 million loss in September 2022 quarter.
MGM China
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.
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.