“Big six” operators to report US$800m net losses for Q3

“Big six” operators to report US$800m net losses for Q3

The six largest casino companies in Macau are expected to report a combined EBITDA loss of more than US$800m.

Macau.- The six largest casino operators in the city are likely to report a combined loss of more than US$800m (MOP6.3bn) in EBITDA for the third quarter, according to a Bloomberg survey of analysts.

Bloomberg’s research forecasts that all concessionaires will likely report negative results for the third quarter. Its survey of seven brokerages included property EBITDA by Sands China, Wynn Macau, Melco Resorts and MGM China and company EBITDA data from Galaxy Entertainment Group (GEG) and SJM Holdings.

Gross gaming revenues in Macau dropped by 82.5 per cent year-on-year to some MOP38.6 billion (US$4.8 billion) between January and September.

Meanwhile, despite the resumption individual visas for tourists from mainland China, the tally of visitors remains down. Visitor numbers were down by 87 per cent to 3.2 million between January and August, with numbers seeing only a very limited recovery since the loosening of border measures in August and September.

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