![]() As a result, despite the nearly two-week closure of casinos in the market in July, our overall EBITDA loss in the third quarter was $66 million, which was a meaningful improvement from a loss of $90 million in the second quarter even after adjusting for a $7 million bad debt credit that benefited the results in the third quarter. Our team has done a fantastic job controlling costs in a very challenging operating environment through a combination of decreases in payroll and fixed opex. In Macau, the market continues to be challenging with marketwide GGR in the third quarter, only reaching approximately 8% of the third quarter of 2019 levels, and our results have reflected that. We also continue to finalize our plans for our upcoming development project across the street from the property that will add incremental parking, food and beverage and entertainment amenities. Our retail sports book there will soon be a significant opportunity for customer acquisition. Looking ahead, we remain excited about sports betting in the Commonwealth, which is expected to kick off early next year. These trends have continued into Q4, with EBITDA per day in October, consistent with the third quarter levels. We saw strength across the casino with record gross gaming revenue and on the non-gaming side with record hotel revenue driven by strength in both ADR and occupancy. Turning to Boston, like Vegas, Encore had a strong quarter, generating $61 million of EBITDA. Near term, we expect the normal seasonal pattern to hold during the remainder of Q4, with some of the usual softness surrounding Thanksgiving, followed by a strong close to the year in the latter half of December. Similarly, our forward-looking indicators also remain quite strong despite well-known macro concerns as room bookings are pacing at or above pre-COVID levels on substantially higher ADRs. In fact, our EBITDA during October was an all-time monthly record for the property. Looking ahead, encouraged that the strength we have experienced over the past several quarters has continued into the fourth quarter. This quarter once again highlights the benefit of that deliberate investment strategy. ![]() Our investment in people, facilities and programming and our team's deep sense of ownership continue to elevate in Las Vegas above our peers. The comparison to third quarter 2019 is even more impressive with our EBITDA more than doubling on a 36% increase in revenue. We saw broad-based strength across casino, hotel, food and beverage and retail, all well above third quarter 2021 levels despite the difficult year-over-year comps. ![]() I'll kick off in Las Vegas, where the team turned in a third quarter record of $196 million of EBITDA or approximately $207 million adjusted for lower-than-normal holds. I'm incredibly proud of the team behind the shelf.
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