In a trading update detailing the company’s progress over the 18 days since re-launch, SkyCity said its domestic business had exceeded expectations at its flagship Auckland property and in the smaller SkyCity Hamilton, with EGM revenue already at 80% of average daily revenue for the eight months to 29 February 2020. Table games revenue is back to 50% after a slow start, which has reflected social distancing requirements, the company said.

Hotel occupancy remains low at 32% but has reached 90% on weekends due to special offers, with room rates on average 35% lower than usual.

The New Zealand government is due to review its response next Monday 8 June with the possibility of dropping the nation back to Alert Level 1 to be considered, paving the way for restrictions to be eased even further.

Nevertheless, SkyCity said it expects its business to be domestically focused for the foreseeable future with the company currently embarking on an employee reduction scheme that would reduce costs by around NZ$50 million per year.

Source of the article: Excerpted from Able Exchange on June 3, 2020, the original title “SkyCity says New Zealand casinos “cash positive” after reopening”, the content of the article is slightly reduced.

Related Posts:

The post SkyCity says New Zealand casinos “cash positive” after reopening appeared first on 博讯头条-全方位博彩新闻网站.

The government also announced on Thursday that it will allow bars, pubs, clubs, Karaoke bars, cinemas, theaters and other entertainment venues to resume operations from midnight on 2 March. Much like casino floors however, operators will be required to leave enough space in internal areas, avoid mass gatherings and improve hygiene measures.

All entertainment venues were forced to close during the 15-day layoff of casinos starting from 5 February, but were not allowed to re-open alongside gaming operations on 20 February.

Meanwhile, the Health Bureau has revealed that the eighth of Macau’s 10 confirmed case has recovered. The patient is a 56-year-old local resident who works as a casino shuttle bus driver for SJM. He was discharged from hospital this week but has been sent to a single ward for medical observation before returning to the community. The number of confirmed cases has held steady at 10 since 4 February.

[Editor：Doris Meng]

Illustrate:(picture/in-cyprus.com)

Related Posts:

The post Four more casinos open their doors as Macau entertainment venues given green light appeared first on 博讯头条-全方位博彩新闻网站.

According to an announcement by the company’s local subsidiary, Cyprus Casinos, C2 Paphos – located in the island’s main tourist area of Geroskipou –  near Paphos International Airport – welcomed its first guests on Monday, joining Melco’s three other satellite casinos in Nicosia, Larnaca and Ayia Napa.

Melco is also operating a temporary casino in Limassol while it develops the €550 million City of Dreams Mediterranean.

Situated on a plot of land measuring 2,600 square meters, with a building size of 550 square meters, C2 Paphos offers 50 gaming machines, a bar and on-site parking for guests. It employs a staff of 25, with limited operating hours between 4pm and 3am on weekdays, 4pm to 6am on Saturdays and 6am to 3am on Sundays. The casino will be open 24 hours on public holidays.

“We are delighted to be launching our fourth and last satellite casino after the opening of C2 Limassol, the first licensed casino on the island, in June 2018,” said Craig Ballantyne, Property President of City of Dreams Mediterranean and Cyprus Casinos.

“We strongly believe that C2 Paphos will further enhance the local touristic experience and attract more visitors to the district not only from Cyprus but also from abroad.”

City of Dreams Mediterranean is due to open for business in late 2021.

[Editor：Doris Meng]

Illustrate:(picture/in-cyprus.com)

Related Posts:

The post Melco opens fourth satellite casino in Cyprus appeared first on 博讯头条-全方位博彩新闻网站.

Galaxy Entertainment Group (GEG) reported an 8.4% year-on-year decline in net revenue to HK$13.0 billion in the three months to 31 December 2019, although the results were boosted by good luck at flagship property Galaxy Macau and higher non-gaming income.

Net gaming revenue for the quarter fell 11.5% to HK$10.75 billion, while non-gaming revenue rose 4.2% to HK$1.43 billion. Group-wide Adjusted EBITDA fell 6.5% year-on-year and 1.5% quarter-on-quarter to HK$4.10 billion, despite both gaming and non-gaming revenue showing improvement over 3Q19 numbers.

Citing a range of macro-factors that impacted revenue, including “a slowing world economy, introduction of the VIP smoking ban, RMB fluctuation, continuing competition from regional markets and disruption in Hong Kong,” GEG saw its rolling chip volume across all properties fall 35.1% to HK$168.98 billion, with win of HK$6.46 billion. Mass table drop fell very slightly to HK$30.60 billion, although an improved win rate of 24.0% saw mass win edge out 4Q18 revenue at HK$7.33 billion. EGM volume was also down very slightly to HK$17.98 billion with win of HK$659 million.

Galaxy Macau contributes most

Galaxy Macau contributed the lion’s share of the company’s results, with net revenue falling 9.9% year-on-year to HK$9.34 billion including gaming revenue of HK$8.14 billion, down 11.6%. Adjusted EBITDA fell 6.5% to HK$3.21 billion.

Rolling chip volume at Galaxy Macau declined 33.5% to HK$114.67 billion, although a win rate of 4.0% helped win reach HK$4.61 billion. Mass table drop fell 1.3% to HK$18.36 billion with win of HK$5.22 billion while EGM handle declined 7.6% to HK$11.87 billion with win of HK$539 million.

At StarWorld, net revenue fell 11% year-on-year, but rose 5% quarter-on-quarter, to HK$2.65 billion on gaming revenue of HK$2.52 billion. Adjusted EBITDA declined 12.4% to HK$782 million.

Rolling chip volume was again down significantly, by 42.1%, to HK$50.54 billion, but a high 3.5% win rate, compared with 2.7% in the prior year quarter, kept win at HK$1.77 billion. Mass table drop fell 4.2% to HK$9.22 billion with win of HK$1.61 billion while EGM handle grew 20.4% to HK$2.42 billion with win of HK$55 million.

Mass-only property Broadway Macau reported net revenue of HK$154 million in 4Q19, up from HK$144 million on non-gaming revenue, ensuring a 100% increase in Adjusted EBITDA to HK$16 million. The increase was despite a decline in casino revenue, where mass table drop fell 7.5% to HK$320 million with win of HK$61 million and EGM handle by 17.9% to HK$471 million with win of HK$11 million.

GEG’s FY19 results saw a group-wide 5.2% fall in net revenue to HK$37.4 billion, with Adjusted EBITDA down 1.8% to HK$12.6 billion.

Impact of this Event

In comments accompanying the results release, GEG Chairman Dr Lui Che Woo noted the impact the event and subsequent 15-day closure of Macau’s casinos would have on the group’s financial results for the current quarter. However, he also issued his full support to preventative measures being undertaken by the Macau government, describing it as “critical for society to unite.”

Dr Lui also said the company has “re-accelerated” work on its Galaxy Macau Phase 3 and Phase 4 developments since the re-opening of casinos on 20 February.

[Editor：Doris Meng]

Illustrate:(picture/galaxyentertainment.com)

Related Posts:

The post Global In Focus Outbreak – Macro-economic pressures see Galaxy Entertainment Group revenues fall 8.4% in 4Q19 appeared first on 博讯头条-全方位博彩新闻网站.

While the majority of that decline was felt at RWG, which saw revenues contract by 6% to MYR 1.60 billion (US$380.2 million), Genting Malaysia said previous estimates of an expansion of the global economy this year were now under threat, placing added pressure on regional gaming operators.

“Downside risks are more pronounced due to heightened global concerns over the impact of the event disease on the global economy,” the company said in its results announcement. “Additionally, concerns over protracted geopolitical tensions and policy uncertainties remain. In Malaysia, the expansion of the domestic economy is expected to continue at a slower pace.

“Demand for international travel is expected to decline in the near-term following the imposition of travel restrictions. The regional leisure and hospitality industry will be adversely impacted, including the gaming industry.

“Consequently, the Group is more cautious on the near-term prospects of the leisure and hospitality industry.”

The fall in revenue at RWG overshadowed improved results at Genting Malaysia’s global properties, particularly in the US and Bahamas where revenue grew 7% to MYR 368.5 million.

Group-wide, Adjusted EBITDA fell 26% to MYR 551.4 million (US$131 million) on a 29% decline at RWG to MYR 415.1 million. Profit for the quarter declined 60% from MYR 705.4 million in 4Q18 to MYR 282.2 million (US$67.1 million) this time around.

“During the period, the Group’s non-gaming segment recorded a 34% improvement in revenue as the entertainment offerings at Resorts World Genting (RWG) were well received,” Genting Malaysia said.

“Nevertheless, the Group’s decline in revenue and adjusted EBITDA was largely due to lower hold percentage in the mid to premium players segment as well as a decrease in volume of business in the mass market segment. Adjusted EBITDA was also impacted by higher gaming duties imposed.”

Genting Malaysia reported a 5% increase in revenue for FY19 to MYR 10.41 billion (US$2.5 billion), although Adjusted EBITDA declined 8% to MYR 2.64 billion (US$627 million).

The group returned to profit in 2019 at MYR 1.33 billion (US$316 million) due to an impairment loss on its investment in promissory notes issued by the Mashpee Wampanoag Tribe, which had resulted in a net loss in FY18.

[Editor：Doris Meng]

Illustrate:(picture/gentingmalaysia.com)

Related Posts:

The post Genting Malaysia warns of downside risk in 2020 concerns after 4Q19 revenue falls 3% appeared first on 博讯头条-全方位博彩新闻网站.

The crackdown essentially targets Chinese nationals working within the POGO industry and promoting online gambling activities to Chinese players.

In a statement issued on Sunday, the Embassy said, “To crack down on cross-border telecom fraud, [China’s] Ministry of Public Security has obtained a list of Chinese nationals suspected of committing long-term telecom fraud crimes abroad, who are classified as the persons prohibited from exiting China.”

While the Philippines has previously rejected calls from China to abolish its POGO industry, PAGCOR stated on Wednesday that it was willing to work with the Embassy to track down any employees known to have a criminal record against their name.

“The crackdown is a result of PAGCOR’s constant coordination with the Chinese embassy and law enforcement agencies to ensure that proper regulations are observed,” PAGCOR said.

“The state-run gaming agency is continuously working with concerned agencies like the Department of Justice for the creation of an operations center where all problems related to illegal gambling and cybercrimes will be coursed through. With this shared effort, PAGCOR can be ensured that all operations being made by the law enforcement agencies are in accordance with the law.”

President Rodrigo Duterte stated only last month that China, via Chinese Ambassador to the Philippines Huang Xilian, had assured him it would not interfere with the country’s offshore gaming industry despite having last year called for all POGOs to be shut down.

[Editor：Doris Meng]

Illustrate:Schematic has nothing to do with news(picture taken from the network)

Related Posts:

The post PAGCOR working with Chinese Embassy in Manila to track down illegal POGO workers appeared first on 博讯头条-全方位博彩新闻网站.