International edition
September 20, 2021

The loss was blamed on the cost of gambling licences

PBL joint venture loses us$ 142 million on Macau casinos

(Macau).- Publishing and Broadcasting Ltd's casino joint venture in Macau has lost us$ 142 million this year, reports The Age. NASDAQ-listed Melco PBL reported a us$ 45.2 million loss for the three months to September 30, its first quarterly loss since opening doors.


espite the setback however, the media and gaming group saysan increase in VIP gambler numbers will initiate a turnaround for Melco PBL Entertainment, operator of the Crown Macau casino.

The loss was blamed on the cost of gambling licences and the 6 star hotel-cum-casino's opening extraveganza. Analysts had expected the company to break even in the quarter.

The news sent Melco PBL's shares down 46 cents to us$ 14.15, well below its listing price of us$ 19.

The joint venture, which is 37 per cent owned by PBL, incurred costs of us$ 160 million in the third quarter and posted us$ 113 million revenue.

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