πŸ’° Galaxy Entertainment Group: Selected Unaudited Q1 Financial Data | Business Wire

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Gross gaming revenue plummeted by an unprecedented 97 per cent to facility for the Hong Kong-Zhuhai-Macau Bridge on 27 April


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Gross gaming revenue slid almost 97 percent in April as coronavirus In the fourth month of , Macau's six concessionaires combined to.


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Macau Gross Gaming Revenue for Q1 was $ billion, down 60% year-​on-year and down 58% quarter-on-quarter. Immigration and.


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Another bit of bad gaming news. Turnover in Macau is expected to plunge 35% according to the experts at Morgan Stanley. The previous estimate for the year.


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Macau's gross gambling revenue is likely to fall 37 percent in , before rebounding strongly next year, and Galaxy Entertainment stands out.


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Possible strong post- Covid demand for Macau gaming services later this year might mean the city's casino gross gaming revenue (GGR) for.


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UBS is revising lower its gross gaming revenue (GGR) forecast for Macau nearly four months after the coronavirus forced a day.


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Thank you. The goal of these initiatives is to assist healthcare workers, help with public health promotion and support the medical and scientific research related to the epidemic. We continue to make progress with our concept plan for a lifestyle resort on Hengqin that will complement our high energy resorts in Macau. At the group level the gaming statistics include Company owned resorts plus City Clubs. Group Financial Results We would like to thank everyone on the GEG team who supported the Company in these difficult times by contributing to our cost control program. Photo: Business Wire. South China Morning Post. Electronic Gaming Volume. Total Net Revenue. The Group has the largest undeveloped landbank of any concessionaire in Macau. The outlook for the foreseeable future is difficult to forecast. In particular, I would like to acknowledge and thank all of the medical and emergency personnel for their efforts and sacrifice. Environmental Campaign Committee. I would like to acknowledge the outstanding efforts of the Central and the Macau SAR Governments and thank them for their leadership during this period. We wish to highlight that the COVID crisis is likely to have a material adverse effect on our financial results and impact our development projects in Macau. For more information about the Group, please visit www. Peter J. Total GGR Win 5. Group Key Financial Data. We continue to ramp up our construction efforts of Cotai Phases 3 and 4, as we firmly believe the market for tourism and leisure in China is greatly under penetrated. Q1 has been a very difficult period for the community and businesses globally due to the COVID pandemic. The Government is also planning a variety of tourism incentives and festive events in Macau to encourage tourists to visit Macau. Our Japan based team continues with our Japan development efforts. Q1 Q4 Gaming Statistics 2. We would like to thank everyone on the GEG team who supported the Company in these difficult times by contributing to our cost control program. Mass Table Drop 8. In the interim we are focused on carefully controlling costs and ensuring our resorts are ready to fully reopen when the market demand returns. Again, we recognize the serious impact of the crisis across the globe, and we encourage people to take caution and increase their level of personal hygiene and safety and remain well during this period of time. During this challenging period of time, we need to stay focused on the battle against the pandemic and I would like to thank all of the medical and emergency personnel for their efforts and sacrifice. The introduction of immigration and quarantine restrictions has adversely affected visitations to Macau and impacted virtually all businesses in Macau. Macau Energy Saving Activity StarWorld Macau. It is positive that recent surveys of Chinese indicated that upon the lifting of travel restrictions, that Chinese tourists have a preference to travel domestically as distinct to international travel. At this point in time it is difficult to quantify the full year financial impact of the virus, but it will have a material impact on our financial results and we cannot determine the duration of the pandemic. Rolling Chip Volume 3. Rolling Chip Volume 7. The average length of stay of overnight visitors extended by 0. We view Japan as a great long term growth opportunity that will complement our Macau operations and our other international expansion ambitions. I am confident in the longer term that we will recover from this challenge and we are committed to supporting the Macau Government in their vision to develop Macau into a World Centre of Tourism and Leisure. Also, all the concessionaires are working closely with the Macau Government and the relevant departments to contain the spread of the virus. Gaming Statistics 9. However, I am pleased to say that the Macau Government has been doing an excellent job to implement a wide range of health and safety and financial measures, to minimize the impact of the pandemic and to unite society. Further, the China economy has been negatively impacted by the virus and it will take some time for the economy to ramp up and for consumer confidence to return to pre-virus levels. Full Size. We will try to maintain our development target, however due to COVID, development timelines may be impacted. This is further impacted by weaker demand for China exports throughout the world. This is due to a lack of certainty around immigration, travel and quarantine restrictions associated with COVID Until we have visibility on these variables it is difficult to predict the shorter term outlook for Macau. These restrictions have impacted visitor arrivals to Macau. Log In Sign Up. GEG is uniquely positioned for long term growth. Construction Materials Division. Again, we wish to thank all GEG team members for their support during this challenging time. Having said that, we are doing our best to adjust our operations to the current business environment and effectively control costs. Same-day visitors were 1. GEG is also planning to develop a world class, lifestyle leisure resort on a 2. We remain well capitalized. Total GGR Win. At this point we cannot quantify the impact but we will endeavor to maintain our schedule. It primarily develops and operates a large portfolio of integrated resort, retail, dining, hotel and gaming facilities in Macau. Social Responsibility Award. I would like to thank everyone on the GEG team who supported the Company in these difficult times by contributing to our cost control program. At this point in time we still cannot determine the duration of the COVID and therefore we are not yet able to quantify the full financial impact. Occupational Safety and Health Council.{/INSERTKEYS}{/PARAGRAPH} Our balance sheet combined with cash flow from operations allows us to return capital to shareholders via special dividends and to fund both our Macau development pipeline and international expansion ambitions. GEG is committed to delivering world class unique experiences to its guests and building a sustainable future for the communities in which it operates. Longer term we remain very confident in the outlook for Macau. I would also like to thank our loyal staff for maintaining the highest level of cleanliness and hygiene within our resorts. Gaming Statistics 6. I would like to express my heartfelt thanks to everyone globally for their efforts and restraints during this period of time. Rolling Chip Volume Mass Table Drop Gaming Statistics City Clubs Key Financial Data. {PARAGRAPH}{INSERTKEYS}All amounts are expressed in HKD unless otherwise stated. Mass Table Drop 4. Importantly in Mainland China, Macau is considered domestic travel and with the planned opening of Cotai Phase 3, GEG is well positioned for future growth.