Win Macau Limited of U.S. casino operator Win Resorts Limited has reportedly announced that its board has decided not to pay investors a final dividend on its 2019 financial performance.

The Hong Kong-listed company said in an official document that the move is aimed at helping it better protect its business in the face of tougher trading conditions caused by the coronavirus pandemic.

As well as Win Macau, the more magnificent Win Palace co-tai recently lost up to $39 million as a direct result of the 15-day closure of Macau casinos last month. The operator is also said to be struggling to reinvigorate its business in the wake of coronavirus fears and a temporary ban in place on visitors entering former Portuguese residences from mainland China.

Wynn Macau Limited reportedly follows a move last week by senior management at Wynn Resorts Limited’s parent company to waive some or all of their 2020 salaries. But that, on the contrary, comes after the board of Macao rival MGM China Holdings Limited, which is majority-owned by Las Vegas-based MGM Resorts International, advised investors to pay a final dividend on each individual stock at $0.083, a 144% higher year-over-year.

“During this unprecedented coronavirus crisis, the board’s main focus is on Macao operations and, most importantly, protecting the welfare of our over 13,000 employees. The Board will continue to monitor the situation and market conditions in Macau and China, and special dividends may be considered if such conditions stabilize in the future.”

The dividend decision also revealed that Win Macau Limited’s 12-month net income fell 19% year-over-year to about $652.67 million and operating income fell 8.7% to about $4.66 billion. The company also reported a 9.5% decline in full-year casino revenue to about $3.98 billion and an 11.2% decline in adjusted earnings before interest, tax, depreciation and amortization.

Win Macao Limited’s 2019 VIP table game sales fell 24.9% year-over-year to just over $2.63 billion, driven by a 31.6% decline in revenue, slightly above $82.17 billion. Casino operators likewise reported a 5.9% drop in annual public market table game revenue to about $2.37 billion, with relatively fixed slot revenue of $370.21 million.

슬롯사이트