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Genting Singapore seeks cost cuts, pessimistic on outlook

2020-08-06

Genting Singapore is seeking to cut costs by about 20 percent to 30 percent after suffering its worst quarterly loss since it opened Resorts World Sentosa.

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Genting HK delays deliveries, cuts costs 

2020-08-03

Genting HK said it’s delaying the delivery of two new ships by about a year and cutting other costs to mitigate the impact of the Covid-19 pandemic.

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Morgan Stanley cuts Macau 2020 GGR estimate

2020-07-21

Morgan Stanley said it now expects Macau's 2020 gross gambling revenue (GGR) to fall 60 percent, compared with its earlier forecast for a 55 percent decline, though has raised its forecasts for recovery for the next two years.

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Focus on opex as operators poised to report “worst" quarter ever

2020-07-06

Macau’s six operators are likely to post the worst quarterly performance ever in Q2, with the focus likely to be on who has done the most to control operating expenditures during the period, Morgan Stanley reports in a note.

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Paradise Co. adopts emergency cost-cutting measures

2020-06-26

Paradise Co. is shifting gears and will implement emergency cost-cutting measures, including sending more executives on furlough and closing down oper

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Dynam sees profit this year despite Covid-19 shutdowns

2020-05-29

Dynam Japan Holdings said it didn’t expect to make a profit in the current quarter after the government ordered the closure of its pachinko parlours in Japan, but does expect to be back in the black for the full financial year, ending March 2021. 

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Genting Malaysia to “rightsize” workforce after Q1 loss

2020-05-22

Genting Malaysia will reportedly cut jobs and reduce wages after reporting a loss for Q1 due to the Covid-19 pandemic.

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Genting Singapore execs agree pay cuts, Genting Malaysia closes property

2020-03-17

Genting Singapore said its executives and senior management have agreed to pay cuts to help to offset the impact of the coronavirus on its earnings, which it warns is likely to be significant.

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Genting HK flags H1 loss, executives waive pay

2020-03-16

Genting Hong Kong, a cruise ship operator, says it expects to post an operating loss in the first half despite cost-cutting measures such as senior executives agreeing to forego their salaries until the end of the year. 

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Caesars tells staff merger likely to mean job losses

2019-06-26

Caesars Entertainment has told staff that its $17.3 billion merger with Eldorado Resorts will likely result in a reduction in headcount, though it’s too early in the process to give details.

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MGM Resorts announces MGM 2020 plan

2019-01-07

US casino operator MGM Resorts International last week announced it will be implementing a new strategy aimed at reducing costs, improve efficiencies

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Genting tax impact may not be as big as feared

2018-11-21

The impact of tax and duty hikes on Genting Malaysia, that were announced in this year’s budget, may not be as bad as initially feared, local media reports, citing a report by UOB Kay Hian Research.

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Further cost cutting will prove challenging: Deutsche Bank

2016-05-26

Whilst Macau’s operators have employed cost mitigation and labor shifts, any further cost cutting will prove challenging given new supply and flatti

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