{"id":529,"date":"2020-07-23T00:00:00","date_gmt":"2020-07-23T00:00:00","guid":{"rendered":"https:\/\/gbc.ng\/us1-billion-loss-for-macau-casinos-in-q2\/"},"modified":"2020-07-23T00:00:00","modified_gmt":"2020-07-23T00:00:00","slug":"us1-billion-loss-for-macau-casinos-in-q2","status":"publish","type":"post","link":"https:\/\/gbc.ng\/index.php\/us1-billion-loss-for-macau-casinos-in-q2\/","title":{"rendered":"US$1 BILLION LOSS FOR MACAU CASINOS IN Q2"},"content":{"rendered":"<p style=\"background: white; margin: 0in 0in 16.35pt 0in;\"><span style=\"font-size: 15.0pt; font-family: 'Arial','sans-serif'; color: #1a1c21; letter-spacing: .3pt;\">Bloomberg analysts expect negative EBITDA for Macau\u2019s six largest casino operators for the period between April and June.<\/span><\/p>\n<p style=\"background: white; box-sizing: border-box; margin: 0in 0in 16.35pt 0in;\"><span id=\"more-8352\" style=\"box-sizing: border-box;\">Macau.- Bloomberg\u2019s financial analysts believe Macau\u2019s biggest casinos will collectively lose about US$1 billion in the second quarter of 2020.<\/span><\/p>\n<p style=\"background: white; box-sizing: border-box; margin: 0in 0in 16.35pt 0in;\"><span style=\"font-size: 15.0pt; font-family: 'Arial','sans-serif'; color: #1a1c21; letter-spacing: .3pt;\">Although projections have improved since mainland China eased some travel restrictions for visiting the city, eight financial brokers surveyed by the news agency expected earnings before interest tax, depreciation and amortization (EBITDA) for the quarter ending June 30 to be US$1 billion in the red for the six largest operators.<\/span><\/p>\n<p style=\"background: white; box-sizing: border-box; margin: 0in 0in 16.35pt 0in;\"><span style=\"font-size: 15.0pt; font-family: 'Arial','sans-serif'; color: #1a1c21; letter-spacing: .3pt;\">The analysts expect each operator to post negative results for Q2, with SJM Holdings\u00a0and MGM China Holdings suffering the greatest losses. SJM is expected to see earnings down by 174 per cent, and MGM by 162 per cent.<\/span><\/p>\n<p style=\"background: white; box-sizing: border-box; margin: 0in 0in 16.35pt 0in;\"><span style=\"font-size: 15.0pt; font-family: 'Arial','sans-serif'; color: #1a1c21; letter-spacing: .3pt;\">Wynn Macau earnings are expected to fall 152 per cent year-on-year, Melco Resorts by 140 per cent, Sands China by 139 per cent, and Galaxy Entertainment by 134 per cent.<\/span><\/p>\n<p style=\"background: white; box-sizing: border-box; margin: 0in 0in 16.35pt 0in;\"><span style=\"font-size: 15.0pt; font-family: 'Arial','sans-serif'; color: #1a1c21; letter-spacing: .3pt;\">As a whole, the industry\u2019s earnings before interest and taxes are estimated by Bloomberg to be down by 143 per cent.<\/span><\/p>\n<p style=\"background: white; box-sizing: border-box; margin: 0in 0in 16.35pt 0in;\"><span style=\"font-size: 15.0pt; font-family: 'Arial','sans-serif'; color: #1a1c21; letter-spacing: .3pt;\">Analysts said they were confident results will be better for the current quarter due to the possibility of travel from\u00a0<em style=\"box-sizing: border-box;\"><b><span style=\"font-family: 'Arial','sans-serif';\"><span style=\"color: #ef8e07;\">Guangdong province to Macau<\/span><\/span><\/b><\/em>\u00a0without mandatory quarantine, as long as the authorities start issuing visas for travel.<\/span><\/p>\n<p class=\"author__bio\" itemprop=\"description\">\n<p class=\"comment-form-comment\"><label class=\"show-on-ie8\" for=\"comment\">Comment<\/label><br \/>\n<textarea aria-required=\"true\" cols=\"45\" id=\"comment\" name=\"comment\" placeholder=\"Message\" rows=\"8\"><\/textarea><\/p>\n<p class=\"comment-form-author\"><label class=\"show-on-ie8\" for=\"author\">Name<\/label><input aria-required=\"true\" id=\"author\" name=\"author\" placeholder=\"Name...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-email\"><label class=\"show-on-ie8\" for=\"name\">Email<\/label><input aria-required=\"true\" id=\"email\" name=\"email\" placeholder=\"Email...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-url\"><label class=\"show-on-ie8\" for=\"url\">Url<\/label><input id=\"url\" name=\"url\" placeholder=\"Website...\" size=\"30\" type=\"text\" value=\"\"\/><\/p>\n<p class=\"comment-form-cookies-consent\"><input id=\"wp-comment-cookies-consent\" name=\"wp-comment-cookies-consent\" type=\"checkbox\" value=\"yes\"\/> <label for=\"wp-comment-cookies-consent\">Save my name, email, and website in this browser for the next time I comment.<\/label><\/p>\n<p class=\"form-submit\"><input class=\"submit\" id=\"comment-submit\" name=\"submit\" type=\"submit\" value=\"Send\"\/> <input id=\"comment_post_ID\" name=\"comment_post_ID\" type=\"hidden\" value=\"19966\"\/> <input id=\"comment_parent\" name=\"comment_parent\" type=\"hidden\" value=\"0\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg analysts expect negative EBITDA for Macau\u2019s six largest casino operators for the period between April and June. Macau.- Bloomberg\u2019s financial analysts believe Macau\u2019s biggest casinos will collectively lose about US$1 billion in the second quarter of 2020. Although projections&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,11],"tags":[],"class_list":["post-529","post","type-post","status-publish","format-standard","hentry","category-asia","category-casino"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US$1 BILLION LOSS FOR MACAU CASINOS IN Q2 - GBC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gbc.ng\/index.php\/us1-billion-loss-for-macau-casinos-in-q2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US$1 BILLION LOSS FOR MACAU CASINOS IN Q2 - GBC\" \/>\n<meta property=\"og:description\" content=\"Bloomberg analysts expect negative EBITDA for Macau\u2019s six largest casino operators for the period between April and June. 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