The company declared a Net Revenue of $857 million in the third quarter. The revenue during the same quarter in the previous year was exceeded by $ 446 million. In spite of restrictions on account of the global Corona Virus pandemic, the company has managed to generate a positive EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) in every market in which it operates.

Revenue still lower as compared to 2019 level

However, even as revenue increases over the 2020 third quarter, it is still short of the level of $ 3.25 billion in the same period in 2019. Revenue has not yet reached pre-pandemic levels.

Restrictions on account of the pandemic as well as a reduction in the number of visitors to Macau and Singapore have had the effect of impacting the financial reports of the operator. Currently, China has launched new regulatory restrictions.

The company has expressed its confidence as regards increase in income as soon as visitors return to these markets and restrictions ease. The company has stated that the eventual recovery in travel and tourism will benefit the company.

The company has stated that there is a strong demand for its offerings from the customers who have been available to visit the properties of the company. It is only on account of travel restrictions that are in place in Macau and Singapore on account of the global pandemic that revenue has been affected to a certain extent.

Robert G. Goldstein, Chairman and Chief Executive Officer of the company has stated that in spite of the current ambivalent situation, the organization is still enthusiastic as regards the opportunity to welcome the guests back to its properties as visitors will be allowed to travel to Singapore as well as Macau in greater numbers in the future.

Additional restrictions by the Chinese Government

The Chinese Government has updated the gaming legislation in Macau that has now cast doubt on the feasibility of operations by foreign operators. A number of restrictions including the number of casinos allowed, the duration of operation of the casinos, government representatives that could be sent to supervise the companies are some of the recent restrictions that are included apart from dividend distribution restrictions as well.