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Melco/Wynn named as top picks as premium mass leads recovery
Melco Resorts & Entertainment and Wynn Resorts are expected to outperform their Macau rivals in the next six months due to their larger exposure to the premium mass market, according to Bernstein Research.
Macau operators to benefit from cost cuts, business mix in Q4
Lower operating costs and a better business mix are likely to have helped the bottom line of Macau’s operators in the fourth quarter, despite continued low revenues, Morgan Stanley says.
Analysts upbeat on Malaysian gaming sector
Analysts have turned more upbeat about the prospects for Malaysia’s gambling operators, despite a recent upswing in new Covid-19 cases, saying the sector is good value as stocks are still down between 15 to 26 percent on the prior year.
Mohegan reports EBITDA down 7.4% for quarter ending September
Mohegan Gaming & Entertainment has announced its operating results for its fourth fiscal quarter ended September 30, 2020. Net revenues were US$294 million, a 29 percent decrease; income from operations was US$50.2 million, a 220 percent increase; and adjusted EBITDA was US$82.8 million, a 7.4 percent decrease.
Philippines turns to cockfighting to raise revenue
The Philippines continues to focus on the gambling industry to raise revenue to fund the government’s coronavirus response, this time passing a law to tax the country’s popular online cockfighting industry.
Lotto NZ has record year as online sales double
Lotto New Zealand said it had record sales for 2020, with online sales doubling as a proportion of the total, up from 19 percent last year to 38 percent as of October.
Far East Consortium maintains profitability through April-September period
Far East Consortium reported its April-September results showing a net profit attributable to shareholders of HK$350 million (US$46 million), down by half in year-on-year terms. Revenue was HK$3.1 billion, a decrease of 39.2% compared to the same period the previous year.
Genting Malaysia losses at US$182 million in Q3
Genting Malaysia recorded total revenues of over RM1.4 billion (US$354 million) in the third quarter of 2020, representing a 46 percent decline year-on-year. The group registered a net loss of RM726 million (US$182 million).
Emperor Entertainment reports six-month revenues down 86.3%
Emperor Entertainment, which operates the Grand Emperor Hotel and the Inn Hotel Macau, has reported revenues at nearly HK$93 million (US$12.1 million) for the April-September six-month period, a figure which was down 86.3 percent year-on-year.
500 com reports US$7.4 million loss for Q3
Troubled online sports lottery operator 500 com reported a US$7.4 million loss in the July to September quarter, based on net revenues of only US$900,000.