Tag: financials
Carnival sees rise in casino spend
Carnival passengers are spending proportionally more on gambling, the company’s executives reported.
EveryMatrix releases Interim 2021 Financial Report
B2B iGaming technology provider EveryMatrix has released its Interim Financial Report covering its performance in the first nine months of 2021 (Q1 to Q3).
Boyd Gaming reopens Main Street Station
Boyd Gaming resumed operations at Main Street Station in downtown Las Vegas in September, with the company attributing the decision to reopen the property to ongoing high demand at the neighbouring California and Fremont hotels.
Melco narrows quarterly loss
Melco’s CEO Lawrence Ho said it had experienced “a progressive recovery in business levels” in Macau during Q2.
Star reports full year profit
A solid showing in the domestic market helped Star Entertainment offset a massive decline in its international VIP business in the company’s full year results.
MGM expects Macau demand to improve in H2
The company opened new luxury suites at MGM Cotai in August and said it is in the process of enhancing the “F&B options focused on the gaming floors” at both its Macau properties.
Caesars celebrates record EBITDA
Following the William Hill acquisition Caesars has rebranded its sports betting operations and launched a new marketing campaign, while CEO Tom Reeg said it will likely sell one of its its eight Las Vegas Strip properties in 2022.
Wynn optimistic as quarterly loss narrows
Wynn Resorts began to chart a recovery in Q2 with the operator’s US properties in Las Vegas and Massachusetts reporting EBITDA records during the quarter.
Las Vegas Sands maintains Asia focus despite pandemic challenges
Las Vegas Sands executives affirmed the company’s properties in Macau and Singapore will drive its future, speaking during the firm’s Q2 earnings call, although they did not rule out pursuing new land-based venues in the US.
Emperor Entertainment posts full year net loss
Grand Emperor Hotel operator, Emperor Entertainment Hotel, posted a net loss of HKD177.6m ($22.9m) for the 12 months to 31 March 2021.
Boyd Gaming hails “exceptional quarter”
Following a strong performance Q1, Boyd Gaming’s CEO Keith Smith highlighted that the company is on the road to recovery, although the operator is still looking to make further gains in the 65-and-over segment and grow its destination business.
Resorts World Manila operator hit by travel restrictions and capacity limitations in Q1
Resorts World Manila operator Travellers International Hotel Group saw a loss of PHP1.1bn ($23m) in Q1.
Rank optimistic despite tough Q3
Prior to reopening its UK properties in mid-May, the Rank Group reported that its Q3 net gaming venue fell 76 percent year-on-year, with only its nine Enracha venues in Spain open during the quarter.
Caesars buoyed by sequential quarterly improvement
As the operator saw signs of recovery in Q1, Caesars Entertainment’s CEO Tom Reeg reported the company is experiencing “extremely robust demand” in its group business segment for H2 2021.
Sands looks to new markets
Speaking during his first earnings call since taking the helm, Las Vegas Sands new chairman and CEO Rob Goldstein said the company is looking at potential expansion opportunities in the US, and is also open to sports betting and iGaming.
Penn National upbeat on “very strong financial performance” since re-opening
Jay Snowden, Penn National Gaming’s president and CEO, noted the company ended the second quarter in “a significantly improved financial position”.
SkyCity buoyed by positive New Zealand results following re-opening
SkyCity Entertainment Group said business has been “encouraging” since the firm resumed operations at its New Zealand properties in mid-May.
Matt Maddox: ‘We are confident that travel and tourism will recover in the US and China’
Following a challenging Q1 in the US and Macau, Wynn Resort’s chief executive affirmed that the company remains well positioned to ride out the coronavirus crisis, highlighting that it retains $3.4bn in liquid assets.
Sheldon Adelson: ‘I have never seen anything like it in over seventy years in business’
The first major US gaming operator to report its Q1 results, Las Vegas Sands experienced a net loss of $51m for the quarter. Nevertheless, despite the uncertain economic panorama due to the coronavirus pandemic, the company’s management remains confident, highlighting the possibility of an Asia-led recovery and teasing M&A plans.
Rank Group warns of a £50 million hit if lockdown continues for prolongued period
More than 7,000 staff have been furloughed as the Rank Group moves to batten down the hatches during the coronavirus pandemic.
Sun International reports full year growth, coronavirus impact uncertain
Sun International’s total income was up by four percent in 2019, however with the firm forced to temporarily close its properties in South Africa and LatAm, it’s still unclear what the full impact of the coronavirus pandemic will be on the company’s bottom line this year.
Bloomberry reports 38 percent profit increase for 2019
Bloomberry Resorts has reported profit for 2019 increased 38 percent year-on-year to reach $193.6m, following a 17 percent growth in GGR to $1.1bn.
Mohegan Gaming and Entertainment Q1 2020 results boosted by Canadian ops
Casino Niagara and Fallsview Casino Resort generated $85m in net revenues during the quarter, helping lift Mohegan Gaming and Entertainment’s Q1 2020 net revenue by nearly 25 percent.
Tsogo unchained, but still weighed down
Recently freed from the group’s struggling hotel interests, Tsogo Sun Gaming’s earnings were predicted to surge to new heights in 2019, but higher..
NagaWorld sees more than 20 percent in rise in GGR for first nine months 20
The casino complex in the Cambodian capital Phnom Penh reported GGR of nearly $1.29bn in the first nine months of the year, while the property’s operator..
Genting Malaysia reports revenue rise despite theme park delay
Genting Malaysia has announced that Q219 net profit rose 3.5 percent year-on- year, hitting $98.7m, a result of group revenue rising 7.4 percent to $620m.
New warehouse planned for former Nevada Biltmore Hotel
Las Vegas and Golden Gate owner Derek Stevens has announced plans to build a 62,976 sq ft warehouse in downtown Las Vegas, on the former site of the..
Emperor Group adjusts customer segmentation as revenue declines
Following a 7.8 percent decline in revenue to $176.6m for the 12 months to 31 March 2019, Emperor Group has announced it will increase..
Atlantic City’s new dawn could yet prove false
This January Atlantic City’s nine casino operators saw a year-on-year revenue increase that bordered on double figures yet all is not well upon the Jersey shore.
Through the month the brick and mortar properties counted $177.3m in GGR, a 9.2 percent increase on the year prior. Such seems particularly positive at face value but as always seems to be the...
AGEM release March 2019 Index
The AGEM Index decreased in March 2019 by 11.27 points to 452.46 points, a 2.43 percent decline from February 2019.
The AGEM Index's March 2019 decline was driven by a 24.70 percent decrease in the stock price of International Game Technology PLC (IGT), which dropped from $17.25 to $12.99. The stock was responsible for 10.37 points of the AGEM Index's...
