Tuesday, February 25, 2020

Tag: financials

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

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

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

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...

NOVOMATIC AG’s half-year result sees record revenue and clear earnings improvement

NOVOMATIC, Europe’s leading gaming technology group, recorded around 700 new employees in the first half of the 2018 financial year, with revenue increasing by 12.6 percent to a new record despite regulatory challenges. The firm's sales increased to EUR 1,365.3 million in the first six months, compared to EUR 1,212.0 million in the first half of 2017. The sales revenue...

Atlantic City’s summer lovin’

Atlantic City Hard Rock
Atlantic City’s two new market entrants and the opening of sportsbooks provided a boost for a market struggling to meet last year’s positivity. Eyes are now being cast forward to see how existing enterprises deal with the change. The latest figures from the New Jersey Division of Gaming Enforcement show that June proved a boon for the city’s gambling industry,...

AGEM releases July 2018 Index

The AGEM Index increased in July 2018. The composite index finished the month at 565.39 points, a gain of 19.02 points or 3.48 percent, compared to June 2018. The AGEM Index reported a year-over-year increase for the 34th consecutive month and has climbed 141.46 points, or 33.37 percent, since July 2017. During the latest period, eight of the 13 global...

Atlantic City bears brunt of stormy quarter

Atlantic City
Atlantic City’s casino properties saw their Q1 earnings drop my almost 12 percent compared to the same period last year despite all remaining profitable. All had seemed golden upon the sands of New Jersey as reports of an Atlantic City comeback appeared to vindicate themselves on a month by month basis throughout most of 2017. However, the latest figures for...

The proof is in the profits for Atlantic City

ICr - Atlantic City
That may have started as tentative speculation and later became whispered optimism has now been affirmed as a concrete fact, the Atlantic City casino industry has just posted its second successive year of growth.   The New Jersey Division of Gaming Enforcement has released its fiscal statements for the final month of 2017, highlighting overall land based revenue of $186.2m. Despite...

Everi completes repricing of $820m Term Loan Facility

Everi Holdings, a provider of casino gaming products and payments solutions, announced today the repricing of its $820m Senior Secured Term Loan.   Under the amended term loan, the interest rate has been reduced by 100 basis points to LIBOR +3.5 percent from LIBOR +4.50 percent and includes six months of 101 soft call protection. The LIBOR floor remains unchanged at...

Scientific Games sees revenue up seven percent in Q3 results

Coinslot- Scientific -Games-increase sg
Gaming, lottery and interactive segments drove up Q3 revenues for Scientific Games, according to its latest financial results.   The company saw revenue rise seven percent to $768.9m, up from $720m compared with the same period for last year. Meanwhile, operating income in the three-month period rocketed 170 percent year-on-year from $33.5m to $90.6m, while net loss was slashed from $98.9m to $59.3m. However, the...

Deloitte names NSoft one of Central Europe’s fastest growing companies

NSoft Deloitte Feature Image
NSoft claimed seventh place in Deloitte's competition with its four years growth rate of 1,990 percent.     It marks the second year in a row that NSoft made it into the top ten, and remained the only company from Bosnia and Herzegovina in the competition. The Technology Fast 50 award winners for 2017 are determined based on the revenue growth from 2013...

Quixant sees revenues jump 38 percent

ICR - Quixant Australasia
Cambridge-based Quixant has reported group revenue growth of 38 percent to $56.9 million in the six months of the year to 30 June 2017.   COO Jon Jayal credited elevated demand worldwide and said the company continued to invest in its technology, pointing to three recently secured patents granted for gaming technology innovations. Jayal said: “I am delighted to report on a...