Home revenue drop
Hong Kong-listed International Entertainment said H2 revenue dropped 77.8 percent to HK$35.3 million due to the impact of Covid-19 restrictions, while it swung to a loss of $9.1 million.
Asia Pioneer Entertainment said its revenue in the nine months to end September fell 26.8 percent to HK$39.1 million and it posted a loss for the period of $23.5 million compared with a loss of $2.7 million a year earlier.
Ainsworth Game Technology is the latest supplier to point to progress in its online offerings, as Covid-19 hits the land-based side of the business.
Melco Resorts & Entertainment CEO Lawrence Ho said his company is still committed to building a world-beating IR in Japan and is in a strong financial position, despite swinging to a loss in Q2 due to Covid-19.
Success Universe warns that it will swing to a loss in the first half due to its share of “substantial” losses from the Ponte 16 casino in Macau.
Belle Corp posted a 52 percent drop in first half revenue as its share of gaming revenue from City of Dreams Manila plunged 87 percent.
Belle Corp said its share of gaming revenue from the City of Dreams Manila dropped 39 percent in Q1 due to Covid-19 disruptions.
Genting Malaysia will reportedly cut jobs and reduce wages after reporting a loss for Q1 due to the Covid-19 pandemic.
Royal Caribbean, Carnival Corp. and Norwegian Cruise Line Holdings all have a low risk of bankruptcy despite the crisis prompted by the Covid-19 pandemic, analysts at Nomura wrote in a note.
Wynn Macau said it expects a drop of as much as 44 percent in Q1 operating revenue due to the impact of the Covid-19 pandemic and expects to continue experiencing cash burn.
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