Asia round-up: Studio City revenue hits $106m, HKJC elects new VP and more
Studio City posts Q4 revenue of $28.4m; $106.9m for FY
Studio City International Holdings has reported its unaudited financial results for the fourth quarter of 2021, with total operating revenue reaching $28.4m.
This is an increase of $4.7m from the same period last year. Studio City cites the change is due to greater takings from the provision of gaming-related services, partially offset by lower non-gaming revenue.
In addition, Studio City’s gross gaming revenue of $91.1m for Q4 marks a further financial rise from 2020, when Q4 results totalled $87.6m.
Rolling chip win rates were notably up in 2021, too, with a 1.84% win rate in Q4 painting a more successful picture for gamers than the –0.13% of Q4 2020.
Rolling chip volume was $474.4m, up $25m from 2020.
Q4 handle decreased to $253.3m from $305.6m in 2020 for table games.
It could maybe explain why more gamers went to slot machines, which is evidenced by a higher handle in Q4 ($262.4m) compared with Q4 of 2020 ($257.7m).
“Winfried’s expertise in the horseracing industry has been of great value to the work of the IHSC, as is his commitment to protecting the welfare of equine and human athletes. I look forward to continuing this close working relationship with Winfried and the IFHA.” IHSC President, Ingmar De Vos
Operating revenue for the year ended 31 December 2021 totalled $106.9m, a considerable increase from $49m in 2020. Studio City not only cites the provision of gaming-related services for improved takings, but also a year-on-year increase in inbound tourism in 2021.
Operating loss was also down significantly at $191.6m, from $279.9m at the end of 2020.
Hong Kong Jockey Club elects Engelbrecht-Bresges as VP of IHSC
The Hong Kong Jockey Club (the Club) has elected CEO Winfried Engelbrecht-Bresges as the Vice-President of the International Horse Sports Confederation (IHSC).
Engelbrecht-Bresges has been the Club’s CEO since 2007, with his election as Vice-President underscoring “the recognition of Hong Kong racing amongst its global industry peers,” a statement from the Club read.
Engelbrecht-Bresges also serves as the Chair of the International Federation of Horseracing Authorities (IFHA) and Chairman of the Asian Racing Federation (ARF). Before being elected as Vice-President of the IHSC, he served as the standing representative of the IFHA on the IHSC General Assembly.
IHSC President Ingmar De Vos commented: “Winfried’s expertise in the horseracing industry has been of great value to the work of the IHSC, as is his commitment to protecting the welfare of equine and human athletes. I look forward to continuing this close working relationship with Winfried and the IFHA.”
Philippines GGR up to $555.2m for Q4
Gross gaming revenue (GGR) was up to PHP96.54bn ($555.2m) for Q4 in the Philippines Casino Sector, up 21.7% from the third quarter, according to GGRAsia.
Q4 results have taken the full-year takings close to PHP96.54bn, which is up 12.4%.
Table games reached a total GGR of almost PHP 671.9m for Q3, up 38.4% from Q2. Philippine Amusement and Gaming Corp (PAGCOR)-run slots rose by 51.7% in revenue generated too.
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