Growth across all segments was driven by strong domestic demand supported by easier Covid-19 mobility and travel restrictions, both locally and within the Asian region according to Bloomberg.
VIP, mass table and EGM GGR amounted to Php4.7bn, Php4.4bn and Php4.3bn. These totals represent year-on-year increases of 136%, 61% and 81% respectively.
Moreover, consolidated EBITDA for Q3 2022 climbed 301% to Php3.6bn, with consolidated net profit amounting to Php1.5bn, compared to a net loss of Php1.1bn in the same quarter last year.
Enrique K. Razon Jr, Bloomberry Chairman and CEO said: “Against a global economic backdrop of rising inflation and interest rates, our business saw third-quarter gaming volumes further improve toward pre-pandemic levels.
“Continued growth during the quarter drove nine-month revenues from our predominantly domestic mass gaming segments to well over 95% of January to September 2019 values, demonstrating the resilience of local discretionary consumption.
"Our VIP segment experienced progressive recovery as it benefited from gradually improving international traffic.”
South Korea: Agilysys pens hospitality deal with Mohegan casino
Agilysys has signed a partnership with Mohegan Inspire Resort and will offer software solutions to a new Mohegan resort once it is finished.
The deal marks the first time Agilysys has worked with an Asian casino property and adds to its portfolio of customers across the continent.
Mohegan’s new resort, which is estimated to cost $5bn, will be situated an hour outside of Seoul – and will feature 1,300 new luxury hotel rooms and a 20,000 square-metre casino. It is expected to open at some point in 2023.
Ioan Mitulescu, VP of information technology for Mohegan Inspire Entertainment Resort, commented: “To future-proof our investment, it was important to our team to select a technology provider with extensive hospitality experience, an accelerating pace of ongoing innovation and a commitment to hospitality-focused research and development.
“Agilysys brings all three to the table, and we look forward to the level of guest engagement and exceptional personalised experiences that we will be able to provide through these integrated and feature-rich hospitality software solutions.”
24-hour Covid test from Macau to mainland China scrapped
Macau’s Heath Bureau has announced people departing for mainland China no longer need to provide a 24-hour validity certificate confirming they are Covid-19 negative.
The new rule took effect on 8 November 2022 and is one in a long line of Covid measures that are gradually being scrapped in the region.
Macau has suffered from mainland China’s zero-Covid policy, damaging visitation numbers and revenues for its six concession holders.
This latest move is a positive step in the region’s bid to return to operational levels and functionality achieved pre-pandemic.
