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Sands China Reports US$549 Million Net Loss for Q2 2020

Niji Narayan

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Sands China Reports US$549 Million Net Loss for Q2 2020
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Sands China Ltd (SCL) has reported a loss of US$549 million for the three months to 30 June 2020, down from a net income of US$511 million in Q2 2019.

The figures, released by parent company Las Vegas Sands (LVS), reflect the tight border restrictions in place during the quarter to limit the spread of COVID-19, with SCL reporting a 98.1% decline in net revenues to just US$40 million.

Those revenues included just US$28 million at the Venetian Macao, down from US$854 million during the same quarter last year, US$10 million at Sands Cotai Central (down from US$483 million) and US$23 million at The Plaza and Four Seasons from US$211 million a year ago. The Parisian Macao reported a net revenue loss of US$19 million compared with net revenues of US$414 million in Q2 2019.

The Venetian Macao fell to an Adjusted EBITDA loss of US$97 million, Sands Cotai Central a loss of US$79 million and the Parisian Macao a loss of US$81 million. Adjusted EBITDA loss for all Macau operations totaled US$312 million.

LVS, which suffered a group-wide loss of US$985 million in 2Q20 on net revenues of just US$98 million, revealed capital expenditure of US$382 million for the quarter of which US$337 million was in Macau, where the company is transforming Sands Cotai Central into The Londoner Macao.

“I am pleased to say that the early stages of the recovery process from the COVID-19 pandemic in each of our markets is now underway,” said LVS Chairman and CEO Sheldon Adelson.

“Our greatest priority during this period of the recovery remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macau, Singapore and Las Vegas.

“We remain optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will enable us to continue to execute our previously announced capital expenditure programs in both Macau and Singapore, while continuing to pursue growth opportunities in new markets.”

Asia

Asia’s Gambling Hub Reopens for Business

Niji Narayan

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Asia’s Gambling Hub Reopens for Business
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Macau, the gambling hub of Asia, has taken its first steps on the road to recovery as the casino capital starts issuing tourist visas again.

Visas for both individuals and group tours from mainland China will be restored in phases. Macau, like Hong Kong, is a special administrative region (SAR) of China. Authorities did not say when visas will be made available to tourists wanting to travel to Macau from outside China.

Macau’s neighbour Zhuhai is the first mainland city to be issued tourist visas. The opportunity will gradually be rolled out to the rest of the country during August and September, according to a statement from China’s National Immigration Administration.

On top of the re-issuing of visas, the two-week quarantine imposed on Macau travellers upon their return to mainland China was lifted across the country.

Macau’s economy is heavily reliant on the tourism and gaming industry. Visitors from mainland China make up more than 90% of Macau’s tourists, which is home to major casino operators including Sands, Wynn, Galaxy and MGM.

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Asia

APE Launches Summer Internship Program for Macau Local College and University for Three Years in a Row

George Miller

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APE Launched Launches Summer Internship Program for Macau Local University for Three Years in a Row
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Asia Pioneer Entertainment Holdings Limited, with its subsidiaries collectively referred as the is pleased to announce its paid summer internship program for three years in a row has been launched from June to August, 2020. The partnership with Macao Polytechnic Institute of this year provides motivated students the opportunity for learning knowledges and skills about the operation of gaming industry.

Under the impact of Covid-19, APE insists to conduct the internship to provide chances of accumulating working experience to the student who are interested in gaming industry. The intern of this year is from the Bachelor of Business Administration in Gaming and Recreation Management of Macao Polytechnic Institute. The intern could obtain diversified knowledges by working in different departments including Administration & Human Resources Department, Consultancy and Technical Sales Department, Technical Department, etc. Interns who complete the program with outstanding results will have priority to receive a chance to become APE full-time employees.

“We are grateful to launch the summer internship program again. In view of the success of the past programs, we believe that students can earn meaningful and valuable experience by training their hands-on skills in workplace, such as teamwork, communication, problem solving, etc.” said Mr. Herman Ng, Chief Executive Officer and Executive Director of APE.

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Asia

TVBET expands its Indian presence in partnering with Betskey

George Miller

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TVBET expands its Indian presence in partnering with Betskey
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The leading provider of live games TVBET announces its new cooperation deal with the Indian sportsbook Betskey. Here, the company does not hide its desire to scale up its partner network across the globe.

The list of TV games by TVBET, including the worldwide hits Keno, Poker, 1Bet, Joker, and Lucky 6 is now presented to large-scale India’s gaming players. The B2B provider looked forward to close cooperation with the Betskey team to strengthen its market presence in Asia. At present, the games are available at the operator’s website, section “Tv Bet”.

Betskey is the India-based sportsbook operator that offers a huge variety of products for local gamblers. Its suite consists of the sporting events with in-play betting options, as well as the casino offering. Since the launch in 2019, the young company has gained recognition on the market, and it’s on the rise.

Peter Korpusenko, CEO TVBET: “The growing interest to TVBET’s broadcast products in Asia is a good sign for our company because it means we’re doing everything in our global promotion correctly. Cooperation with Betskey is very valuable for us. In terms of development, we’ve been able to lay the groundwork for more effective coordination in Asia region”.

Ishita Gandhi, VP at Betskey: “We are delighted to partner with TVBET, a fastest growing company committed to building robust products. We are very excited to roll out this partnership on many online platforms globally and deliver a rich experience to our customers worldwide”.

Thanks to its great expertise in the niche of live TV games, an increasing number of market participants choose TVBET, thus giving preference to flawless streaming and comprehensive promo functionality.

 

About TVBET:
TVBET is a world’s leading provider of live-games offering a fully customizable games’ integration for bookmakers and casinos in order to support their growth and development in a competitive market. Since its launch in 2016, TVBET’s major idea is to create and then maintain a top-shelf and up-to-date content for partners that will literally «glue» any player to their computer’s, tv’s or smartphone’s screen. Operators crew of TVBET are diligently conducting the technical aspect to pursue a high-quality «picture» and sound of broadcasting, while charming hosts make every player stay interested in the continuation of the game as long as possible. TVBET products are certified by GLI which confirms randomness of the results. Currently, the award-winning provider operates 11 unique live-games available worldwide 24 hours a day, 365 days a year.

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