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Tag Archives: Macau

China – Galaxy forced to delay opening of Galaxy Macau Phase 3 despite GGR bouncing back

Whilst delighted that second quarter revenues were rebounding, Macau operator Galaxy Entertainment has confirmed that COVID has delayed the unveiling of Galaxy Macau Phase 3 until 2022. The company said limitations on workforce access due to the COVID-19 pandemic has caused the delay to the project, that will include the Galaxy International Convention Center, several…

China – MGM narrows loss in Macau as revenues double year-on-year

MGM China said that ‘Macau continued to see a choppy business environment during the [first half of the year] under the COVID-19 pandemic’ but that MGM China recorded total revenue of approximately HK$4.7bn, nearly double from HK$2.4bn same period a year ago. For the first half of 2021, the Group recorded adjusted EBITDA of approximately…

China – SJM sees first half revenue increase by 19 per cent

SJM Resort’s net gaming revenue in the first half of 2021 increased by 18.8 per cent to HK$5,076m from HK$4,272m in the year-earlier period, whilst Adjusted EBITDA improved by 48.2 per cent to a negative HK$510m from a negative HK$984m. Loss attributable to owners of the company was HK$1,466n, 3.8 per cent greater than HK$1,412m…

China – First infections since February 2020 see Macau move into state of ‘immediate pandemic prevention’

Macau has entered a state of ‘immediate pandemic prevention’ with the government stating ‘Macau is now facing a high risk of COVID-19 transmission and pandemic outbreak in the local community.’ A family of four tested positive for the Delta variant, becoming the first infections in Macau for almost a year and a half. “In order…

China – Grand Lisboa Palace Resort Macau officially opens its doors

The highly-anticipated Grand Lisboa Palace Resort Macau, developed by SJM Resorts in Cotai, officially opened its doors to the public on Friday. The venue opened with 150 new mass gaming tables with a request to relocate a further 118 from four self-promoted casinos and 14 satellite casinos, which will see VIP gaming launched at the…

China – Grand Lisboa Palace set for a phased opening today

Grand Lisboa Palace Resort Macau, the new integrated resort by SJM Resorts, in Cotai, will open its doors to the public in a phased manner at 12 noon on July 30 2021. The first phase will see the lavish integrated resort welcoming guests to the flagship Grand Lisboa Palace Macau, the largest of its three…

China – Altira Macau to refocus on premium mass gaming

Melco Resorts has confirmed it will pull the plug on the VIP operations at Altira Macau with a shift of strategy seeing it concentrate on the premium mass gaming sector. The transformation is expected to take 12 months to be completed. Melco’s Chairman and CEO Lawrence Ho said: “At Altira, starting in the third quarter…

China – Melco reduces operating loss as EBIDTA bounces back at all its Macau casinos

Melco Resorts generated operating loss for the second quarter of 2021 of US$128.1m, compared with operating loss of US$370.8m in the second quarter of 2020. Total operating revenues for the second quarter of 2021 were US$566.4m, representing an increase of approximately 222 per cent from US$175.9m for the comparable period in 2020. The increase in…

China – Sands confident of returning to $5bn plus EBITDA from Asia

Despite positive adjusted property EBITDA in Macau and Singapore, Las Vegas Sands said it continued to be affected by pandemic-related travel restrictions and reduced visitation. For the quarter ended June 30, 2021, it generated net revenue of $1.17bn, compared to $62m in the prior year quarter. Operating loss was $139m, compared to $757m in the…