Wednesday, June 29, 2022


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Travellers Q2 net halves despite revenue gains


Travellers International Hotel Group posted an almost 52 percent drop in Q2 net profit as costs rose and a one-time gain reported last year wasn’t repeated, though revenue growth was strong.

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Gamblers bear brunt of POCT: JP Morgan


Higher costs associated with Australia’s Point of Consumption Tax (POCT) has ultimately been passed over to gamblers, according to a note from JP Mo

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Sportsbet helps boost Paddy Power results


Paddy Power posted a 13 percent gain in 2017 revenue, helped by a strong performance from its Australian online betting brand Sportsbet. The U.K.-list

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Merger costs drops Paddy Power into 16H1 loss


International bookmaker Paddy Power Betfair reported 16H1 results this week, including results of Australian operator Sportsbet. The gambling giant, c

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Cotai developments push up construction worker wages


The average daily wage of construction workers increased by 9.5 percent quarter-on-quarter to MOP771 ($96.5) in 15Q3, due to an increase in demand for

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LVS modest margin declines likely to accelerate: DB


Las Vegas Sands 15Q3 results beat expectations due to continued cost cutting in Macau and a surprising upside in Singapore, but recent modest margin d

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Macau casinos have no choice but to cut costs: MS


Morgan Stanley analysts said casino management have no choice but to focus on cost cutting after gross gaming revenue fell 44 percent in15Q2, with no

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Cotai pipeline "worrisome," Deutsche Bank says


Deutsche Bank has revised down its Macau property EBITDA forecasts to between 9 percent and 12 percent for 2015 and 2016 due to margin pressure as fix

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Filipino senator requests examination of CoD employee suspensions


A Filipino Senator has requested the Senate look into reports that City of Dreams Manila would suspend around 100 workers to cut costs. According to l

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Casino oversupply concern is underappreciated says MS analysts


Morgan Stanley says investors are too focused on weekly data for signs of bottoming revenue, while the risk of significant margin dilution due to high

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SkyCity and state agree the preliminary design of NZICC


Economic Development Minister Steven Joyce and SkyCity CEO Nigel Morrison announced that the company and the state have agreed the preliminary design,

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SkyCity making progress on Convention Center


  SkyCity’s CEO announced that it it making good progress with the government towards finalizing the preliminary design of the New Zealand Internat

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Update I: Wynn Macau, others, encourage unpaid leave


Amid tough market conditions, Wynn Macau is among the local casino operators encouraging staff to take unpaid leave to save money. According to a te

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