Connect with us
Prague Gaming & TECH Summit 2024

Latest News

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

Published

on

Sands China Reports US$549 Million Net Loss for Q2 2020
Sands China Reports US$549 Million Net Loss for Q2 2020Reading Time: 2 minutes

 

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.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sands China Reports US9 Million Net Loss for Q2 2020

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Latest News

NEW YORK ISLANDERS REPRESENTATIVE ERIK ‘EKI’ TAMMENPAA EARNS HIS SIXTH EUROPEAN TITLE AT THE EA SPORTS NHL 24 EUROPEAN CHAMPIONSHIP

Published

on

Reading Time: 2 minutes

 

In a rematch of last year’s European Championship, Erik ‘Eki’ Tammenpää, representing the New York Islanders, again prevailed over Teemu ‘Temppanen’ Karvonen representing the Anaheim Ducks to win the EA SPORTS NHL 24 European Championship title. The win marks Eki’s fourth-straight and sixth-overall European Championship title (2018, 2019, 2021, 2022, 2023, 2024) and another $15,000 USD in earnings. Temppanen placed second in the competition that took place at the Copenhagen Media Facility in Copenhagen, Denmark on Sunday evening. For a second year straight, both players will represent Europe in the EA SPORTS NHL 24 World Championship taking place in April in New York.

Eki is a full-time YouTube and Twitch content creator and EA SPORTS™ NHL® 24 expert and 24-year-old native of Helsinki, Finland. He remains the most decorated esports player on the NHL competitive circuit and will try once again to capture the World title after capturing runner up at last year’s EA SPORTS NHL 23 World Final.

During the competition in Copenhagen today, Temppanen and Eki qualified for a spot in the World Final by competing in a semifinal best-of-three round. Both players split their first two games, with Temppanen ultimately overtaking NikkeDanglesin a tight competition and Eki defeating Eken45Jr with eight goals in a Game Three shutout.

The Championship series saw a rematch of last year’s EA SPORTS NHL 23 European Final with Temppanen and EKI facing off once again. While Temppanen took the lead with an early goal in Game One, Eki scored three quick goals in a three-minute span during the second period and a game-winning goal in the third period by Vincent Trocheck (New York Rangers). Eki continued his goal streak and dominated Game Two, ultimately scoring six unanswered goals, including tallies from Jaccob Slavin (Carolina Hurricanes), Bo Horvat(New York Islanders), and Cam Atkinson (Philadelphia Flyers). Eki’s

6-0 victory solidified his sixth European title and status as “the one to beat.”

EA SPORTS NHL 24 EUROPEAN FINAL STANDINGS

1st: Eki, New York Islanders

2nd: Temppanen, Anaheim Ducks

3rd: Eken45jr, Pittsburgh Penguins

4th: NikkeDangles, Washington Capitals

5th-8th: Alphaborje, Detroit Red Wings

5th-8th: Kibeeex, Toronto Maple Leafs

5th-8th: Launonexx, Tampa Bay Lightning

5th-8th: Teemuyy, Colorado Avalanche

The EA SPORTS NHL 24 North American Championship will be contested on March 24 at the NHL Flagship Store in New York beginning at 1 p.m. ET on the NHL’s Twitch channel. For more news, fans can visit www.nhl.com/NHL24 and follow the conversation on social using #NHL24WC.

 

Continue Reading

Latest News

TWO PAGCOR MULTI-PURPOSE FACILITIES INAUGURATED IN TARLAC

Published

on

Reading Time: 4 minutes

PAGCOR Chairman and CEO Alejandro H. Tengco (left) turns over to Mayor Doña Cresencia Tesoro of San Manuel, Tarlac (middle) the ceremonial key for the new multi-purpose facility funded by the state gaming regulator while San Manuel Vice Mayor Atty. Benjamin Tesoro looks on.

 

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro H. Tengco on Monday, March 18, led the inauguration of two newly completed multi-purpose centers in the towns of San Manuel and Victoria in the province of Tarlac.

Mr. Tengco said the state gaming agency provided a total of Php100 million for both of the two-story projects.

“Naglaan ang PAGCOR ng limampung milyong piso para sa bawat multi-purpose center sa bayan ng San Manuel at Victoria; mayroon itong iba’t ibang pasilidad gaya ng kusina, storage areas para sa relief goods, toilet at shower rooms, lactating rooms at maluwag na activity area para sa iba’t ibang gawain,” he said.

 

Students and teachers of Sta. Maria Elementary School in San Manuel, Tarlac greet PAGCOR Chairman and CEO Alejandro H. Tengco (8th from right, standing) and San Manuel Mayor Doña Cresencia Tesoro (7th from right, standing) during the inauguration of the PAGCOR-funded multi-purpose facility on March 18.

 

The PAGCOR chief said that because the Philippines is very vulnerable to climate change, “typhoons, floods and earthquakes are common occurrences that we must always be prepared for.”

However, he stressed that while the buildings are primarily designed as temporary shelters during emergencies, the structures can be used for various socio-civic activities, too.

 

PAGCOR Chairman and CEO Alejandro H. Tengco (left) and San Manuel Mayor Doña Cresencia Tesoro (right) unveil the PAGCOR logo during the inauguration of the two-story facility.

 

“During the height of the pandemic, when the project was rolled out, there was a high demand for quarantine and evacuation facilities. But now, there is more sense to call these as multi-purpose centers rather than just evacuation facilities,” Chairman Tengco said.

 

The two-story PAGCOR multi-purpose facility in Victoria, Tarlac.

 

 

PAGCOR Chairman and CEO Alejandro H. Tengco (right) and Victoria Municipal Mayor Rex C. Villa Agustin (left) unveil the PAGCOR logo during the inauguration of the multi-purpose facility constructed by the state gaming agency in Victoria, Tarlac.

 

“You may use this facility as your social hall, events area, and livelihood training center. You may also use this building to generate revenues for the local government,” he said.

During the event, Chairman Tengco also introduced PAGCOR’s upcoming flagship programs which include school buildings for public schools, e-learning centers, community wellness centers, and socio civic centers nationwide.

“These upcoming flagship projects are designed to create lasting impact on the lives of ordinary Filipinos,” he said. “These are just some of our nation-building efforts because as you are all aware, PAGCOR is the third largest revenue contributor to the national coffers.”

San Manuel Mayor Doña Cresencia Tesoro thanked the PAGCOR chief for the agency’s support.

“We are grateful that PAGCOR saw our need. This multi-purpose center is so far the biggest project that we have seen in San Manuel, and this is proof of PAGCOR’s commitment to serve the Filipinos,” she said.

“We thank everyone who made this dream come to life. Rest assured that we will use this to enrich the lives of our people and the generations to come,” Tesoro added.

 

PAGCOR Chairman and CEO Alejandro H. Tengco (left) shakes hands with Victoria Municipal Mayor Rex C. Villa Agustin during the inauguration of the multi-purpose facility constructed by the state gaming agency in Victoria, Tarlac.

 

Board Member Harmes Sembrano of the 2nd District of Tarlac also expressed gratitude to PAGCOR for funding the two-story multi-purpose facility in Victoria.

“With our limited resources, we cannot afford to fund all programs that will be beneficial to the people of Tarlac. But because of PAGCOR’s help, we have this new multi-purpose facility which will serve not only the locals of Victoria but also those from neighboring towns,” Sembrano said.

PAGCOR has thus far completed and inaugurated 38 multi-purpose buildings in different parts of the country while 34 others are still under construction.

 

 

Continue Reading

Latest News

BETSSON.SPORT DEBUTS IN ITALY WITH FRANCESCO TOTTI AS AMBASSADOR

Published

on

Reading Time: < 1 minute

 

Betsson.sport proudly announces the launch of its new sports infotainment platform in Italy. At the heart of this initiative as its ambassador, stands Francesco Totti, the revered Italian football legend celebrated for his exceptional talent and illustrious career.

With a focus on delivering exclusive content, interviews, news and highlights across various sporting disciplines, Betsson.sport aims to become a go-to destination for sports enthusiasts nationwide.

Additionally, Betsson.sport introduces the initiative ‘Betsson Sport Club,’ inviting teams to join and gain visibility and support alongside other participating teams. This club is open to clubs from both prominent and lesser-known leagues, offering them exposure opportunities and a platform for more visibility.

“I am thrilled to be part of this project, which aligns perfectly with my daily commitment to sharing my passion for sports,” said Francesco Totti. “Betsson.sport presents a wonderful opportunity to unite various sports clubs and helping them to realise their full potential.”

Ronni Hartvig, Chief Commercial Officer of Betsson Group, stated, “Italy holds significant importance for Betsson, and we are delighted to partner with Francesco Totti, a figure synonymous with excellence in Italian football. We think his story and experiences will help us make the Betsson Sports Club even better, promoting our values of fair play, inclusion, and passion.”

As Betsson.sport embarks on its journey in Italy, the brand is committed to innovation and collaboration. The recent partnership announcement with Roma exemplifies this commitment, marking the beginning of a series of dynamic initiatives aimed at strengthening the bond between sports and Betsson.sport.

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.