• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Covid uncertainty may linger, says Melco group

Nov 30, 2022 Newsdesk Latest News, Macau, Top of the deck  


Covid uncertainty may linger, says Melco group

Economic uncertainty linked to Covid-19 outbreaks is likely to linger “for at least the remainder of 2022”, said Melco Resorts Finance Ltd in its third-quarter report issued on Tuesday.

The entity is linked to casino operator Melco Resorts and Entertainment Ltd, which has seen a casino business it runs in Manila in the Philippines recover substantially since that nation exited Covid-19 lockdowns earlier this year. City of Dreams Manila had returned to full operational capacity by the first quarter this year, according to comments by Melco Resorts chairman Lawrence Ho Yau Lung.

But in Macau, where the firm runs in the Cotai district its flagship City of Dreams resort and the majority-owned Studio City, as well as the Altira Macau hotel casino in Taipa, business recovery has been choppy due to periodic travel curbs linked to China’s “dynamic zero Covid” strategy.

“Uncertainty around Covid-19 outbreaks is expected to continue for at least the remainder of 2022, with travel bans or restrictions, visa restrictions, and quarantine requirements being key factors impacting performance for the year,” stated Melco Resorts Finance.

Melco Resorts saw its net loss widen to US$243.8 million in the third quarter this year, mostly driven by the weak performance of the Macau market, compared with a group-wide net loss of US$233.2 million a year earlier. The net loss was nonetheless down 3.1 percent from the second quarter this year.

Long-term net debt at Melco Resorts Finance was just over US$5.29 billion as of September 30, up 18.4 percent relative to December 31, 2021’s figure of slightly more than US$4.47 billion, noted Tuesday’s statement.


  • tweet
Related articles
  • Melco International ends JV for theme park in Zhongshan
    Melco International ends JV for theme...

    Sep 27, 2023  

  • Grand Hyatt MICE revamp before year end: Melco CEO
    Grand Hyatt MICE revamp before year...

    Sep 21, 2023  

More news
  • Macau September GGR down 13pct on August: govt
    Macau September GGR down 13pct...

    Oct 01, 2023  

  • Sands China to revitalise firecracker factory, old streets
    Sands China to revitalise firecracker...

    Sep 29, 2023  


Latest News

Macau September GGR down 13pct on August: govt

Macau September GGR down 13pct on August: govt

Oct 01, 2023  

Macau’s September casino gross gaming revenue (GGR) fell by 13.2 percent month-on-month, to MOP14.94 billion (US$1.85 billion), according to a Sunday announcement from the local regulator, the...
Read More
Sands China to revitalise firecracker factory, old streets

Sands China to revitalise firecracker factory, old streets

Sep 29, 2023  

Bloomberry aims to raise up to US$99mln via share sale

Bloomberry aims to raise up to US$99mln via share sale

Sep 29, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The Philippines has been the primary growth driver, but really the broader Asian gaming industry is something that’s really important to us”

Matt Wilson

Chief executive of casino equipment provider Light & Wonder



Most Popular

  • Macau September GGR down 13pct on August: govtMacau September GGR down 13pct on August: govt October 1, 2023
  • Sands China to revitalise firecracker factory, old streetsSands China to revitalise firecracker factory, old streets September 29, 2023
  • S.Korea Daegu Casino fined US$776k for AML breaches S.Korea Daegu Casino fined US$776k for AML breaches  September 29, 2023
  • Light & Wonder to expand facilities in the Philippines: CEOLight & Wonder to expand facilities in the Philippines:… September 29, 2023
  • Any Macau clamp on money changing may hurt GGR: punditsAny Macau clamp on money changing may hurt GGR: pundits September 25, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us