Aussie BO incurs a loss of 53 million Hong Kong dollars

Jiten171

Macao Aussie BO Holdings announced that as of September 30, 2023, the company's attributable loss to owners amounted to HKD 410 million (USD 52.5 million) for the three months, with total gaming revenue remaining flat compared to the previous quarter, reaching HKD 5.73 billion. Although total gaming revenue increased by over 500% annually, Aussie BO's integrated resort, Grand Lisboa, located in Cotai, still experienced slow growth, with third-quarter gaming revenue at HKD 783 million (USD 100 million), approximately half of the total revenue of HKD 1.47 billion (USD 188 million) for New Lisboa on the Macau Peninsula.

Grand Lisboa, after adjusting for property EBITDA, reported a loss of HKD 27 million (USD 3.5 million), narrowing the losses from HKD 227 million (USD 29 million) in the third quarter of 2022 and HKD 620 million (USD 79 million) in the second quarter of 2023. New Lisboa's adjusted property EBITDA reached HKD 373 million (USD 47.8 million), reversing the EBITDA loss of HKD 223 million (USD 28.6 million) in the same period last year and showing improvement from the second quarter's HKD 313 million (USD 40.1 million).

The group's overall adjusted EBITDA was HKD 566 million (USD 72.5 million), a 159% annual increase and a 32% quarterly increase. Net income totaled HKD 5.87 billion (USD 752 million), marking a 471% annual increase. Market segmentation shows a 1,055% annual growth in VIP turnover for the high-end segment, reaching HKD 335 million (USD 42.9 million), a 507% increase in mid-tier gaming revenue to HKD 4.9 billion (USD 628 million), and a 330% annual growth in electronic gaming machine revenue to HKD 330 million (USD 42.3 million).

The total revenue for other self-promoted entertainment venues (The Venetian Macao, Sands Cotai Central, and The Parisian Macao) was HKD 11.8 billion (USD 1.51 billion), with an adjusted EBITDA of HKD 3.45 billion (USD 442 million). Satellite entertainment venues generated total revenue of HKD 2.3 billion (USD 295 million), with an adjusted EBITDA loss of HKD 80 million (USD 10.2 million). Angela Leong, Chairperson of Macau Gaming Holdings Limited and Executive Director of SJM Holdings Limited, stated, 'Aussie BO Holdings' third-quarter performance demonstrates continuous growth in adjusted EBITDA, and Grand Lisboa's business also shows steady improvement.' She added, 'Furthermore, we continue to invest in and sponsor cultural, educational, culinary, and sports activities throughout the quarter, committed to supporting the diversified development of the Macau economy.

Indra55

If there's a loss, one can only learn from mistakes, at least to identify the underlying issues.

Kahn332

Both losses and gains are seasonal.

Jatin255

Such a significant contrast in the same environment requires reflection.

Jiger955

This loss is still a significant amount of money.