Asian Gaming, the Hong Kong-listed company was responsible for the impressive Galaxy Macao, Starworld Macao and Broadway Macao venues, with adjusted losses before interest, tax, depreciation and amortization improving by 31% over the three-month period to approximately $121.6 million.
Galaxy Entertainment Group Limited reportedly detailed that third-quarter finance was helped as officials began easing travel restrictions between mainland China and Macau, marking the beginning of a long journey to a full recovery after the recent coronavirus-induced economic downturn. However, the source explained that the operator’s adjusted earnings for the third quarter fell nearly 123% year-on-year, with earnings before interest, tax, depreciation and amortization falling 87.8% annually. 안전한 파워볼사이트
Lui Che Woo is chairman of Galaxy Entertainment Group Limited, which reportedly said his company ‘continued to focus on effective cost control measures’ at the expense of ‘profit generation’ during the third quarter. As such, operators reported total gaming revenue for the three months fell 94% year-over-year to about $111.8 million, but that figure represents a 79% increase from the previous quarter.
“While we are pleased to see a gradual increase in Macau visitors as individual visit planning visas are restored, we expect a gradual increase in visitor arrivals and income over the coming quarters.”
Further breaking down the size of its finances, Galaxy Entertainment Group reportedly saw total gaming revenue improve 160 percent quarter-on-quarter to about $46.3 million through its mass market products, while related VIP receipts rose about 50 percent to $60.8 million. Similarly, the company reported a 12% increase in revenue for its electronic game console to $4.6 million, but all of these finishing figures represented a 93% to 95% year-over-year decline.