Sands China Ltd has reported total net revenue of $672 million for Q4 2020, a 70% decline from $2.24 billion for the same period in 2019.
The decline reflects the sharp fall in the fortunes of the city’s casinos.
Las Vegas Sands Corp. named acting Chief Executive Officer Robert Goldstein as permanent CEO following the death of Sheldon Adelson.
Casino tycoon and American political mega-donor Sheldon Gary Adelson died last night following complications related to treatment for non-Hodgkin’s lymphoma. He was 87.
The Macao government said in a statement on Tuesday that it “expresses its deepest sorrow on the passing of Mr Adelson, and extends its most sincere condolences to his family.”
Secretary for Economy and Finance said last month he expected this year’s government GGR tax receipts to be around MOP 130 billion, which is around MOP 10 billion per month.
Sheldon Adelson has taken a medical leave of absence from his roles to receive further treatment for non-Hodgkin’s lymphoma.
Gaming operator SJM to give eligible employees a “living subsidies” equivalent of 1.5 or two months’ salary.
December marks the 15th consecutive month of year-on-year declines since October 2019.
Chief Executive Ho Iat Seng said that “anything is possible” concerning the timing of the bidding process for Macao’s gaming concessions which expire in June 2022.
Gaming operator SJM on Thursday announced that its popular Grand Lisboa New Year Countdown Show will be cancelled this year.
Kevin Benning, who has over 15 years of experience in the casino gaming industry will be responsible for the operations of Studio City.
Melco Resorts held a 24.6% share of local gaming revenues between January and September, followed by Sands China at 19.5%.
Macao’s gross gaming revenue (GGR) fell by 70.9% year-on-year to MOP 6.75 billion (US$843 million) in November.
Macao’s 120 hotels and guesthouses recorded 57,000 staycation guests in October, a year-on-year increase of 13.6%.
Gaming and junket activities’ share of Macao’s gross domestic product rose by 0.2 percentage points from 50.7 per cent in 2018 to 50.9 per cent last year.
The Macao government’s income from direct gaming taxes dropped 74.1% year-on-year to MOP 24.3 billion (US$3.05 billion) in the first 10 months of the year.
Macao’s Hong Kong-listed gaming operator Galaxy Entertainment Group (GEG) has announced a 34% quarter-on-quarter growth in its net revenue to HK$1.6 billion (MOP 1.65 billion) in the third quarter.
The operating revenues of Wynn Palace in Cotai fell 97.4% year-on-year to US$15.7 million (MOP 125.3 million) in the third quarter of this year
Gaming operator Melco Resorts & Entertainment Limited reported on Thursday an 85% year-on-year decline in its third-quarter total operating revenues to US$210 million.
Macao casinos’ gross gaming revenue rose 228.8% from MOP 2.21 billion in September to MOP 7.27 billion (US$910.9 million) last month.
The Macao government expects the local casino industry to generate MOP 130 billion (US$16.25 billion) in gross gaming revenue next year.
Macao gaming operator MGM China announced Friday that its net revenues decreased by 94% year-on-year to US$47 million in the third quarter.
Gaming operator SJM Holdings said on Thursday that while it has been “severely impacted” by the COVID-19 outbreak and Macao’s ongoing restrictions on entry from the mainland, Hong Kong and other places, as well as the curtailment of transportation channels and quarantine requirements, it has seen “the beginnings of recovery in visitation, hotel occupancy and visitor spending.”
Billionaire Adelson’s Las Vegas Sands mulls US$6 billion sale of US casinos to focus on Macao, Singapore markets
Sheldon Adelson’s Las Vegas Sands is exploring the sale of its casinos in Las Vegas in a move that would mark the mogul’s exit – for now – from the US gambling industry, according to South China Morning Post (SCMP).