first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Show Comments ▼ Share Christmas boost for retail sales KCS-content Wednesday 15 December 2010 8:30 pm whatsapp Holiday season high street sales are up on last year, employer’s body the CBI reported yesterday. Some 67 per cent of retailers expected higher sales than last year, with only 11 per cent preparing for a decline. The positive index score was the highest year-on-year comparison since April 2002. However, fewer retailers expect the sales boom to continue into next year, with the VAT rise – on 4 January – threatening to dampen sales of big ticket items. Tags: NULLlast_img read more

first_img Subscribe to the iGaming newsletter Q1 results 2021 29th April 2021 | By Nosa Omoigui Melco records Q1 revenue decrease but losses shrink following lower costs AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino gaming proved to be its biggest source of revenue by generating $433.8m, although this was down 39.1% from last year. Melco was able to cut operating expenses by 29.1%, reducing them to $681.7m from $961.1m. Melco chairman and CEO Lawrence Ho said: “COVID-19 and the subsequent travel restrictions continue to have a significant negative impact on our operating and financial performance. Despite these challenges, our integrated resorts experienced a moderate recovery in business levels during the first quarter.” Ho added: “Melco is currently actively engaged with multiple potential partners. We will continue to be patient as wenavigate the landscape to ensure that Melco pursues the right opportunity that takes advantage of Melco’s core strengths to drive strong value creation.” Altira Macau saw an even sharper drop off, with its $14.3m revenue for 2021 being 73.0% less than last year’s $52.9m sum. Topics: Finance Q1 results 2021 Studio City brought in $97.9m while the operator’s smaller Mocha Clubs throughout Macau contributed $17.8m – both down from last year. Regions: Asia US Macau Despite seeing a 35.3% decrease on last year’s numbers, City of Dreams continues to be Melco’s best performing casino – recording total operating revenue of $302.5m. Email Address Rooms contributed $39.7m and food and beverage $26.1m, while entertainment, retail and other revenues came to $19.4m. The City of Dreams Manila location, meanwhile, took $79.5m. Because of this, operating losses for the company came to $162.8m, up by 8.6% from 2020, while it incurred a further $114.0m in non-operating costs, down 56.2%. This decline in non-operating expenses was mostly due to a $179.3m expense classed as an other non-operating cost in 2020. Overall Merco posted a net loss of $277.5m, which is $128.5m less than 2020. Tags: Melco Resorts & Entertainment Melco Resorts & Entertainment Limited achieved revenue figures of $518.9m (£373m/€429m) for the first quarter of 2021 – a 36.1% decrease from 2020. The impact of the Covid-19 pandemic was a substantial blow to Melco’s casinos, with pandemic-imposed travel restrictions having an adverse affect on business. Casinos were the biggest expenditure at $366.9m, but this was down 35.0%. General and administrative costs totaled $108.2m, down 17.6%. Depreciation and amortisation also cost the company $121.0m, 14.4% less than in 2020. last_img read more