Tag: financials

Sands looks to new markets

Sands financials 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

Penn National Gaming 2nd quarter financial
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 New Zealand
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’

Wynn Resorts financials
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’

US Gaming Las Vegas Sands financial
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

Rank Group lockdown hit warning
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 financials
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

Solaire Bloomberry Resorts
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

Mohegan Gaming and Entertainment Canada
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

Tsogo Sun South Africa
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

Cambodia NagaCorp GGR Financial results
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

Gentings Malaysia
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

warehouse 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

Emperor Group 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

eldorado caesars atlantic city
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

Casino-Review-AGEM-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...

AGEM releases February 2019 Index

AGEM, index
The AGEM Index increased in February 2019 by 0.15 points to 463.73 points, a 0.03 percent gain from January 2019. The largest positive contributor to the AGEM Index in February 2019 was Scientific Games Corporation (SGMS), which added 6.47 points due in large part to a 15.96 percent increase in stock price. International Game Technology PLC (IGT) experienced a 5.44...

Pagcor reports record earnings increase despite potential portfolio sale

PAGCOR, financials
Pagcor has reported its net income for Q318 has increased 762.9 percent, year on year, to $699m. The Philippine gaming regulator, which also operates a series of state owned casinos, added income from gaming operators increased 18.7 per-cent to $937 for the period, 9.3 percent higher than was originally predicted. Expenditure included $178m in corporate social responsibility payments, and $38m earmarked...

Melco remains optimistic despite tough Q3

Melco Resorts Entertainment, usa, china, financials
Melco Resorts and Entertainment saw a decline in both net revenue and income during the third quarter, which the company attributed to a change in accounting methods, however it acknowledged that the trade war between the US and China is impacting the VIP and premium mass segments. Melco Resorts and Entertainment reported a revenue and profit decline in its Q3...

Wynn Resorts looks to get out of the bunker in Las Vegas

Wynn Resorts Las Vegas macau Paradise Park development financial
Wynn Resort Q3 figures were boosted by a solid performance in Macau, while in Las Vegas the company has opted for a new 18-hole golf course over Steve Wynn’s vision for the $3bn Paradise Park development. While Wynn Resorts reported a 10 percent increase in operating revenues year-on-year for Q3 2018, the quarter was a tale of two halves for...

Bloomberry sees profit fall despite revenue gain after Entertainment City investment

Bloomberry Resorts Corporation has reported a 39 percent decline in profit for Q318 at $21.3m, following significant property investment and loan expenses. Though mass table drop rose 27 per-cent to hit a record $23m, and VIP volume jumped ten percent to $11.1bn, the operator stated purchase of the 39.5 acres under its flagship Solaire Casino heavily dented earnings for the...

November marks 28th consecutive month of growth for Macau

Macau, casino, revenue, financials
Macau’s casino revenue exceeded analysts’ predictions in November, with GGR coming in at MOP 25bn($3.1bn), a rise of 8.5 percent year-on-year. The figure was confirmed by Macau’s Gaming Inspection and Coordination Bureau, beating analysts median growth estimates by four percent. However, while November was Macau’s 28th consecutive month of growth, it also marked the third month in a row which saw...

GPI posts significant Asian revenue boost amid executive level shake up

GPI has announced its revenue for the second quarter of this year rose 51.6 percent from the prior year period, reaching $24.7m. The casino equipment supplier, which also listed outstanding signed orders totalling $21.5m, highlighted Asia as a key market, both currently, and in the future. “Sales in Asia came in at $6.8m, up from $2.1m in the year earlier,” said...

Sun International responds to negative reports

Sun City Resort
Sun International has responded to comments made by members of the national parliament that on of its venues was in line to face a 30 percent drop in bookings as a result of a declining regional trade. A parliamentary committee reported that the Sun City resort…

Gauselmann annual report shows sales up 15.8%

Gauselmann Group
The Gauselmann Group in Germany has enjoyed a fantastic 60th anniversary year with its annual report showing a sales increase of 15.8 percent to €2.93bn. The increase in sales for the firm comes at a difficult time in its domestic market after a Federal Court decision in mid-2017 saw severe legal restrictions come into effect forcing many arcades to close. The...

AGEM releases August 2018 Index

Casino-Review-AGEM-Index-
The AGEM Index decreased in August 2018. The composite index finished the month at 565.39 points, a decline of 43.88 points or 7.76 percent, compared to July 2018. The AGEM Index reported a year-over-year increase for the 35th consecutive month and has climbed 89.85 points, or 20.81 percent, since August 2017. During the latest period, seven of the 13 global gaming...

Regulatory changes make themselves felt in Kangwon Land’s Q2 results

Regulatory changes make themselves felt-1
Kangwon Land, South Korea’s only casino to accept local players, saw a 14 percent fall in net profit year on year for Q2 2018 as the impact of stricter regulations took its toll. The company reported that the net profit for the quarter…

Olympic Entertainment Group sees net profit rise despite reduction in casino portfolio

Casino Olympic
Estonia-headquarted Olympic Entertainment Group (OEG) saw a rise in profit for the first half of 2018 despite the continuing reduction of its retail casino business. OEG reported gross revenue of E106.6m in the six months ending 30 June, a two percent improvement on the same period last year. Meanwhile, the company saw a 16.7 percent increase in net profit, which rose...

Novomatic posts double-digit revenue growth after US and Europe expansion

Novomatic
Following several noteworthy acquisitions and expansion into European regulated territory Novomatic has reported revenue for the first half of 2018 jumped 12.6 percent to $1.6bn. The gaming technology company stated earnings for the period rose 11.6 percent to $369.6m after six months of focused company growth. “This pleasing result confirms our strategy of consolidating our market leadership in existing markets and...

Genting Singapore sees Q2 profit rise despite fall in revenue

Genting Singapore
Resorts World Sentosa operator Genting Singapore reported net profit of SGD177.6m ($129.6m) for Q2 2018, compared to SGD143.3m in the same period last year. The improvement in profit was despite a six percent decline in revenue, the company said in filing on 3 August. Genting Singapore reported gaming revenue of SGD406. 1m for the three months to 30 June, down...

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