MACAU, Nov. 02, 2022 (GLOBE NEWSWIRE) — Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class built-in resort positioned in Cotai, Macau, right this moment reported its unaudited monetary outcomes for the third quarter of 2022.
Total working revenues for the third quarter of 2022 had been adverse US$2.8 million, in comparison with complete working revenues of US$18.7 million within the third quarter of 2021. The change was primarily attributable to the federal government mandated short-term on line casino closures in Macau in July and heightened journey restrictions in Macau and mainland China associated to COVID-19 through the quarter which led to a lower in income from on line casino contract and decrease non-gaming revenues.
Studio City Casino generated gross gaming revenues of US$20.6 million and US$85.0 million for the third quarters of 2022 and 2021, respectively.
Studio City Casino’s rolling chip quantity was US$42.1 million within the third quarter of 2022 versus US$472.4 million within the third quarter of 2021. The rolling chip win fee was 4.18% within the third quarter of 2022 versus 2.35% within the third quarter of 2021. The anticipated rolling chip win fee vary is 2.85% – 3.15%.
Mass market desk video games drop decreased to US$61.9 million within the third quarter of 2022, in contrast with US$250.5 million within the third quarter of 2021. The mass market desk video games maintain share was 25.6% within the third quarter of 2022, in comparison with 26.4% within the third quarter of 2021.
Gaming machine deal with for the third quarter of 2022 was US$98.2 million, in contrast with US$271.5 million within the third quarter of 2021. The gaming machine win fee was 3.1% within the third quarter of 2022, in comparison with 2.9% within the third quarter of 2021.
Revenue from on line casino contract was adverse US$18.2 million for the third quarter of 2022, in contrast with income from on line casino contract of adverse US$8.6 million for the third quarter of 2021. Revenue from on line casino contract is internet of gaming taxes and the prices incurred in reference to the on-going operation of the Studio City Casino that are deducted by the Gaming Operator.
Total gaming taxes and the prices incurred in reference to the on-going operation of the Studio City Casino deducted from gross gaming revenues had been US$38.8 million and US$93.6 million within the third quarters of 2022 and 2021, respectively.
Total non-gaming revenues at Studio City for the third quarter of 2022 had been US$15.4 million, in contrast with US$27.3 million for the third quarter of 2021.
Operating loss for the third quarter of 2022 was US$72.5 million, in contrast with working lack of US$55.7 million within the third quarter of 2021.
Studio City generated adverse Adjusted EBITDA(1) of US$39.5 million within the third quarter of 2022, in comparison with adverse Adjusted EBITDA of US$23.1 million within the third quarter of 2021. The change was primarily attributable to the lower in income from on line casino contract and decrease non-gaming revenues.
Net loss attributable to Studio City International Holdings Limited for the third quarter of 2022 was US$85.2 million, in contrast with internet loss attributable to Studio City International Holdings Limited of US$63.2 million within the third quarter of 2021. The internet loss attributable to participation curiosity was US$8.0 million and US$12.4 million within the third quarters of 2022 and 2021, respectively.
Other Factors Affecting Earnings
Total internet non-operating bills for the third quarter of 2022 had been US$20.7 million, which primarily included curiosity bills of US$23.2 million, internet of quantities capitalized, partially offset by curiosity earnings of US$2.5 million.
Depreciation and amortization prices of US$31.9 million had been recorded within the third quarter of 2022, of which US$0.8 million was associated to the amortization expense for the land use proper.
The adverse Adjusted EBITDA for Studio City for the three months ended September 30, 2022 referred to in Melco’s earnings launch dated November 2, 2022 (“Melco’s earnings release”) is US$8.1 million lower than the adverse Adjusted EBITDA of Studio City contained on this press launch. The Adjusted EBITDA of Studio City contained on this press launch contains sure intercompany fees that aren’t included within the Adjusted EBITDA for Studio City contained in Melco’s earnings launch. Such intercompany fees embody, amongst different objects, charges and shared service fees billed between the Company and its subsidiaries and sure subsidiaries of Melco. Additionally, Adjusted EBITDA of Studio City included in Melco’s earnings launch doesn’t replicate sure intercompany prices associated to the desk video games operations at Studio City Casino.
Financial Position and Capital Expenditures
Total money and financial institution balances as of September 30, 2022 aggregated to US$620.7 million (December 31, 2021: US$499.4 million), together with US$0.1 million of restricted money (December 31, 2021: US$0.1 million). Total debt, internet of unamortized deferred financing prices and unique situation premiums, on the finish of the third quarter of 2022 was US$2.43 billion (December 31, 2021: US$2.09 billion).
Capital expenditures for the third quarter of 2022 had been US$132.4 million.
Recent Developments
Uncertainty round COVID-19 outbreaks and associated restrictions proceed to have a cloth impact on our operations, monetary place, and future prospects into the fourth quarter of 2022.
On August 2, 2022, the validity of nucleic acid checks to enter Macau was set at 48 hours for entry from Zhuhai and was lowered to 24 hours from October 30, 2022. Since September 1, 2022, vacationers turned eligible to enter Macau with out prior approval offered they held passports issued by the 41 international locations specified by the Macau authorities or adjust to sure situations imposed by the Macau authorities, topic to legitimate nucleic acid checks, 7-day quarantine at a authorities designated facility and a 3-day self-monitoring interval. On November 1, 2022, China’s National Immigration Administration commenced digital processing of visa purposes for particular person or group journey to Macau.
Uncertainty round COVID-19 outbreaks is anticipated to proceed for not less than the rest of 2022 with journey bans or restrictions, visa restrictions, and quarantine necessities being key elements impacting efficiency.
The development of Studio City Phase 2 continues to progress on schedule with development completion anticipated inside 2022. We will monitor the market intently to find out the suitable time to open and presently anticipate opening in phases, starting within the second quarter of 2023.
Studio City Phase 2 will supply roughly 900 extra luxurious resort rooms and suites, a further indoor/outside water park which is anticipated to be one of many largest on the planet, a Cineplex, a number of fine-dining eating places, and a complete of roughly 1,100 sq. meters of state-of-the-art MICE house. Furthermore, the enlargement can even function a resort tower underneath the W Hotel model in partnership with Marriott International.
Safe Harbor Statement
This press launch accommodates forward-looking statements. These statements are made underneath the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Studio City International Holdings Limited (the “Company”) might also make forward-looking statements in its periodic studies to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic details, together with statements concerning the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties, and quite a lot of elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion. These elements embody, however usually are not restricted to, (i) the worldwide COVID-19 outbreak, brought on by a novel pressure of the coronavirus, and the continued impression of its penalties on our business, our business and the worldwide economy, (ii) dangers related to the newly adopted gaming regulation in Macau and its implementation by the Macau authorities, (iii) development of the gaming market and visitations in Macau, (iv) capital and credit score market volatility, (v) native and world financial situations, (vi) our anticipated development methods, (vii) gaming authority and different governmental approvals and rules, and (viii) our future business growth, outcomes of operations and monetary situation. In some instances, forward-looking statements will be recognized by phrases or phrases akin to “may”, “will”, “expect”, “anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”, “believe”, “potential”, “continue”, “is/are likely to” or different related expressions. Further data relating to these and different dangers, uncertainties or elements is included within the Company’s filings with the SEC. All data offered on this press launch is as of the date of this press launch, and the Company undertakes no obligation to replace such data, besides as required underneath relevant regulation.
Non-GAAP Financial Measures
(1) “Adjusted EBITDA” is outlined as internet earnings/loss earlier than curiosity, taxes, depreciation, amortization, pre-opening prices, property fees and different and different non-operating earnings and bills. We imagine that Adjusted EBITDA gives helpful data to traders and others in understanding and evaluating our working outcomes. This non-GAAP monetary measure eliminates the impression of things that we don’t contemplate indicative of the efficiency of our business. While we imagine that this non-GAAP monetary measure is helpful in evaluating our business, this data must be thought of as supplemental in nature and isn’t meant as an alternative choice to the associated monetary data ready in accordance with U.S. GAAP. It shouldn’t be thought of in isolation or construed as a substitute for internet earnings/loss, money move or another measure of monetary efficiency or as an indicator of our working efficiency, liquidity, profitability or money flows generated by working, investing or financing actions. The use of Adjusted EBITDA has materials limitations as an analytical device, as Adjusted EBITDA doesn’t embody all objects that impression our internet earnings/loss. In addition, the Company’s calculation of Adjusted EBITDA could also be completely different from the calculation strategies utilized by different corporations and, subsequently, comparability could also be restricted. Investors are inspired to overview the reconciliation of the historic non-GAAP monetary measure to its most instantly comparable GAAP monetary measure. Reconciliations of Adjusted EBITDA with essentially the most comparable monetary measures calculated and introduced in accordance with U.S. GAAP are offered herein instantly following the monetary statements included on this press launch.
(2) “Adjusted net income/loss” is internet earnings/loss earlier than pre-opening prices, property fees and different and loss on extinguishment of debt, internet of participation curiosity. Adjusted internet earnings/loss is introduced as supplemental disclosure as a result of administration believes it gives helpful data to traders and others in understanding and evaluating our efficiency, along with earnings/loss computed in accordance with U.S. GAAP. Adjusted internet earnings/loss could also be completely different from the calculation strategies utilized by different corporations and, subsequently, comparability could also be restricted. Reconciliations of adjusted internet earnings/loss attributable to Studio City International Holdings Limited with essentially the most comparable monetary measures calculated and introduced in accordance with U.S. GAAP are offered herein instantly following the monetary statements included on this press launch.
About Studio City International Holdings Limited
The Company, with its American depositary shares listed on the New York Stock Exchange (NYSE: MSC), is a world-class built-in resort positioned in Cotai, Macau. For extra details about the Company, please go to www.studiocity-macau.com.
The Company is strongly supported by its single largest shareholder, Melco Resorts & Entertainment Limited, an organization with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO).
For the funding neighborhood, please contact:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: [email protected]
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 31513765
Email: [email protected]
| Studio City International Holdings Limited and Subsidiaries | |||||||||||||||||
| Condensed Consolidated Statements of Operations (Unaudited) | |||||||||||||||||
| (In hundreds of U.S. {dollars}, besides share and per share knowledge) | |||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||
| September 30, | September 30, | ||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||
| Operating revenues: | |||||||||||||||||
| Revenue from on line casino contract(3) | $ | (18,166 | ) | $ | (8,562 | ) | $ | (44,171 | ) | $ | (5,522 | ) | |||||
| Rooms | 3,527 | 9,782 | 13,566 | 30,774 | |||||||||||||
| Food and beverage | 3,509 | 6,346 | 12,855 | 20,417 | |||||||||||||
| Entertainment | 871 | 1,383 | 1,175 | 2,428 | |||||||||||||
| Services charge | 5,033 | 6,330 | 16,215 | 19,493 | |||||||||||||
| Mall | 1,246 | 3,115 | 5,800 | 9,684 | |||||||||||||
| Retail and different | 1,187 | 329 | 1,871 | 1,213 | |||||||||||||
| Total working revenues | (2,793 | ) | 18,723 | 7,311 | 78,487 | ||||||||||||
| Operating prices and bills: | |||||||||||||||||
| Costs associated to on line casino contract(3) | (9,622 | ) | (7,334 | ) | (21,864 | ) | (18,934 | ) | |||||||||
| Rooms | (2,884 | ) | (3,217 | ) | (8,476 | ) | (9,328 | ) | |||||||||
| Food and beverage | (5,162 | ) | (6,864 | ) | (18,241 | ) | (20,939 | ) | |||||||||
| Entertainment | (536 | ) | (962 | ) | (1,704 | ) | (2,252 | ) | |||||||||
| Mall | (979 | ) | (929 | ) | (3,041 | ) | (2,907 | ) | |||||||||
| Retail and different | (273 | ) | (351 | ) | (904 | ) | (1,115 | ) | |||||||||
| General and administrative | (17,280 | ) | (22,147 | ) | (59,457 | ) | (68,949 | ) | |||||||||
| Pre-opening prices | (785 | ) | (6 | ) | (1,731 | ) | (739 | ) | |||||||||
| Amortization of land use proper | (823 | ) | (831 | ) | (2,474 | ) | (2,496 | ) | |||||||||
| Depreciation and amortization | (31,029 | ) | (31,456 | ) | (92,854 | ) | (93,299 | ) | |||||||||
| Property fees and different | (369 | ) | (346 | ) | (3,790 | ) | (4,129 | ) | |||||||||
| Total working prices and bills | (69,742 | ) | (74,443 | ) | (214,536 | ) | (225,087 | ) | |||||||||
| Operating loss | (72,535 | ) | (55,720 | ) | (207,225 | ) | (146,600 | ) | |||||||||
| Non-operating earnings (bills): | |||||||||||||||||
| Interest earnings | 2,458 | 841 | 4,187 | 2,350 | |||||||||||||
| Interest bills, internet of quantities capitalized | (23,181 | ) | (23,564 | ) | (70,430 | ) | (69,073 | ) | |||||||||
| Other financing prices | (104 | ) | (106 | ) | (311 | ) | (314 | ) | |||||||||
| Foreign alternate beneficial properties, internet | 162 | 2,484 | 6,402 | 4,989 | |||||||||||||
| Loss on extinguishment of debt | – | – | – | (28,817 | ) | ||||||||||||
| Total non-operating bills, internet | (20,665 | ) | (20,345 | ) | (60,152 | ) | (90,865 | ) | |||||||||
| Loss earlier than earnings tax | (93,200 | ) | (76,065 | ) | (267,377 | ) | (237,465 | ) | |||||||||
| Income tax credit score (expense) | 9 | 531 | (485 | ) | (29 | ) | |||||||||||
| Net loss | (93,191 | ) | (75,534 | ) | (267,862 | ) | (237,494 | ) | |||||||||
| Net loss attributable to participation curiosity | 8,016 | 12,367 | 26,817 | 38,885 | |||||||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (85,175 | ) | $ | (63,167 | ) | $ | (241,045 | ) | $ | (198,609 | ) | |||||
| Net loss attributable to Studio City International Holdings Limited per Class A odd share: | |||||||||||||||||
| Basic | $ | (0.111 | ) | $ | (0.171 | ) | $ | (0.349 | ) | $ | (0.536 | ) | |||||
| Diluted | $ | (0.111 | ) | $ | (0.171 | ) | $ | (0.351 | ) | $ | (0.536 | ) | |||||
| Net loss attributable to Studio City International Holdings Limited per ADS: | |||||||||||||||||
| Basic | $ | (0.442 | ) | $ | (0.682 | ) | $ | (1.396 | ) | $ | (2.145 | ) | |||||
| Diluted | $ | (0.442 | ) | $ | (0.682 | ) | $ | (1.404 | ) | $ | (2.145 | ) | |||||
| Weighted common Class A odd shares excellent utilized in internet loss attributable to Studio City International Holdings Limited per Class A odd share calculation: | |||||||||||||||||
| Basic | 770,352,700 | 370,352,700 | 690,440,759 | 370,352,700 | |||||||||||||
| Diluted | 770,352,700 | 370,352,700 | 762,952,519 | 370,352,700 | |||||||||||||
| (3) | As a results of the amendments made to the settlement for the operation of the Studio City Casino introduced on June 23, 2022, sure revenues and working prices of the Company had been beforehand captioned as i) income from provision of gaming associated companies and at the moment are captioned as income from on line casino contract; and ii) prices for provision of gaming associated companies and at the moment are captioned as prices associated to on line casino contract. |
| Studio City International Holdings Limited and Subsidiaries | ||||||||
| Condensed Consolidated Balance Sheets | ||||||||
| (In hundreds of U.S. {dollars}, besides share and per share knowledge) | ||||||||
| September 30, | December 31, | |||||||
| 2022 | 2021 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current belongings: | ||||||||
| Cash and money equivalents | $ | 620,558 | $ | 499,289 | ||||
| Accounts receivable, internet | 2,435 | 247 | ||||||
| Amounts due from affiliated corporations | 245 | 15,697 | ||||||
| Inventories | 5,308 | 5,828 | ||||||
| Prepaid bills and different present belongings | 38,856 | 42,633 | ||||||
| Total present belongings | 667,402 | 563,694 | ||||||
| Property and gear, internet | 2,817,355 | 2,556,040 | ||||||
| Contract acquisition prices, internet | 12,797 | – | ||||||
| Intangible belongings, internet | 1,714 | 2,777 | ||||||
| Long-term prepayments, deposits and different belongings | 36,415 | 69,624 | ||||||
| Restricted money | 129 | 130 | ||||||
| Operating lease right-of-use belongings | 13,086 | 14,588 | ||||||
| Land use proper, internet | 108,908 | 112,114 | ||||||
| Total belongings | $ | 3,657,806 | $ | 3,318,967 | ||||
| LIABILITIES, SHAREHOLDERS’ EQUITY AND | ||||||||
| PARTICIPATION INTEREST | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 581 | $ | 211 | ||||
| Accrued bills and different present liabilities | 163,762 | 201,405 | ||||||
| Income tax payable | 21 | 21 | ||||||
| Amounts on account of affiliated corporations | 74,205 | 53,093 | ||||||
| Total present liabilities | 238,569 | 254,730 | ||||||
| Long-term debt, internet | 2,433,674 | 2,087,486 | ||||||
| Other long-term liabilities | 21,464 | 17,771 | ||||||
| Deferred tax liabilities, internet | 483 | – | ||||||
| Operating lease liabilities, non-current | 13,198 | 14,797 | ||||||
| Total liabilities | 2,707,388 | 2,374,784 | ||||||
| Shareholders’ fairness and participation curiosity: | ||||||||
| Class A odd shares, par worth $0.0001; 1,927,488,240 shares | ||||||||
| approved; 770,352,700 and 370,352,700 shares issued | ||||||||
| and excellent, respectively | 77 | 37 | ||||||
| Class B odd shares, par worth $0.0001; 72,511,760 shares | ||||||||
| approved; 72,511,760 shares issued and excellent | 7 | 7 | ||||||
| Additional paid-in capital | 2,477,359 | 2,134,227 | ||||||
| Accumulated different complete losses | (29,194 | ) | (6,136 | ) | ||||
| Accumulated losses | (1,579,760 | ) | (1,338,715 | ) | ||||
| Total shareholders’ fairness | 868,489 | 789,420 | ||||||
| Participation curiosity | 81,929 | 154,763 | ||||||
| Total shareholders’ fairness and participation curiosity | 950,418 | 944,183 | ||||||
| Total liabilities, shareholders’ fairness and participation curiosity | $ | 3,657,806 | $ | 3,318,967 | ||||
| Studio City International Holdings Limited and Subsidiaries | ||||||||||||||||
| Reconciliation of Net Loss Attributable to Studio City International Holdings Limited to | ||||||||||||||||
| Adjusted Net Loss Attributable to Studio City International Holdings Limited (Unaudited) | ||||||||||||||||
| (In hundreds of U.S. {dollars}, besides share and per share knowledge) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (85,175 | ) | $ | (63,167 | ) | $ | (241,045 | ) | $ | (198,609 | ) | ||||
| Pre-opening prices | 785 | 6 | 1,731 | 739 | ||||||||||||
| Property fees and different | 369 | 346 | 3,790 | 4,129 | ||||||||||||
| Loss on extinguishment of debt | – | – | – | 28,817 | ||||||||||||
| Participation curiosity impression on changes | (99 | ) | (57 | ) | (712 | ) | (5,515 | ) | ||||||||
| Adjusted internet loss attributable to Studio City International Holdings Limited | $ | (84,120 | ) | $ | (62,872 | ) | $ | (236,236 | ) | $ | (170,439 | ) | ||||
| Adjusted internet loss attributable to Studio City International Holdings Limited per Class A odd share: | ||||||||||||||||
| Basic | $ | (0.109 | ) | $ | (0.170 | ) | $ | (0.342 | ) | $ | (0.460 | ) | ||||
| Diluted | $ | (0.109 | ) | $ | (0.170 | ) | $ | (0.344 | ) | $ | (0.460 | ) | ||||
| Adjusted internet loss attributable to Studio City International Holdings Limited per ADS: | ||||||||||||||||
| Basic | $ | (0.437 | ) | $ | (0.679 | ) | $ | (1.369 | ) | $ | (1.841 | ) | ||||
| Diluted | $ | (0.437 | ) | $ | (0.679 | ) | $ | (1.375 | ) | $ | (1.841 | ) | ||||
| Weighted common Class A odd shares excellent utilized in adjusted internet loss attributable to Studio City International Holdings Limited per Class A odd share calculation: | ||||||||||||||||
| Basic | 770,352,700 | 370,352,700 | 690,440,759 | 370,352,700 | ||||||||||||
| Diluted | 770,352,700 | 370,352,700 | 762,952,519 | 370,352,700 | ||||||||||||
| Studio City International Holdings Limited and Subsidiaries | |||||||||||||||
| Reconciliation of Operating Loss to Adjusted EBITDA (Unaudited) | |||||||||||||||
| (In hundreds of U.S. {dollars}) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||
| Operating loss | $ | (72,535 | ) | $ | (55,720 | ) | $ | (207,225 | ) | $ | (146,600 | ) | |||
| Pre-opening prices | 785 | 6 | 1,731 | 739 | |||||||||||
| Depreciation and amortization | 31,852 | 32,287 | 95,328 | 95,795 | |||||||||||
| Property fees and different | 369 | 346 | 3,790 | 4,129 | |||||||||||
| Adjusted EBITDA | $ | (39,529 | ) | $ | (23,081 | ) | $ | (106,376 | ) | $ | (45,937 | ) | |||
| Studio City International Holdings Limited and Subsidiaries | ||||||||||||||||
| Reconciliation of Net Loss Attributable to Studio City International Holdings Limited | ||||||||||||||||
| to Adjusted EBITDA (Unaudited) | ||||||||||||||||
| (In hundreds of U.S. {dollars}) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (85,175 | ) | $ | (63,167 | ) | $ | (241,045 | ) | $ | (198,609 | ) | ||||
| Net loss attributable to participation curiosity | (8,016 | ) | (12,367 | ) | (26,817 | ) | (38,885 | ) | ||||||||
| Net loss | (93,191 | ) | (75,534 | ) | (267,862 | ) | (237,494 | ) | ||||||||
| Income tax (credit score) expense | (9 | ) | (531 | ) | 485 | 29 | ||||||||||
| Interest and different non-operating bills, internet | 20,665 | 20,345 | 60,152 | 90,865 | ||||||||||||
| Property fees and different | 369 | 346 | 3,790 | 4,129 | ||||||||||||
| Depreciation and amortization | 31,852 | 32,287 | 95,328 | 95,795 | ||||||||||||
| Pre-opening prices | 785 | 6 | 1,731 | 739 | ||||||||||||
| Adjusted EBITDA | $ | (39,529 | ) | $ | (23,081 | ) | $ | (106,376 | ) | $ | (45,937 | ) | ||||
| Studio City International Holdings Limited and Subsidiaries | |||||||||||||||||||||
| Supplemental Data Schedule | |||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| September 30, | September 30, | ||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||
| Room Statistics(4): | |||||||||||||||||||||
| Average every day fee (5) | $ | 107 | $ | 123 | $ | 114 | $ | 122 | |||||||||||||
| Occupancy per accessible room | 25 | % | 52 | % | 27 | % | 54 | % | |||||||||||||
| Revenue per accessible room (6) | $ | 27 | $ | 64 | $ | 31 | $ | 66 | |||||||||||||
| Other Information(7): | |||||||||||||||||||||
| Average variety of desk video games | 277 | 291 | 277 | 291 | |||||||||||||||||
| Average variety of gaming machines | 702 | 656 | 711 | 623 | |||||||||||||||||
| Table video games win per unit per day (8) | $ | 794 | $ | 2,883 | $ | 1,592 | $ | 3,354 | |||||||||||||
| Gaming machines win per unit per day (9) | $ | 54 | $ | 131 | $ | 82 | $ | 135 | |||||||||||||
| (4) | Room statistics exclude rooms that had been briefly closed or offered to employees members because of the COVID-19 outbreak | ||||||||||||||||||||
| (5) | Average every day fee is calculated by dividing complete room revenues together with complimentary rooms (much less service fees, if any) by complete occupied rooms together with complimentary rooms | ||||||||||||||||||||
| (6) | Revenue per accessible room is calculated by dividing complete room revenues together with complimentary rooms (much less service fees, if any) by complete rooms accessible | ||||||||||||||||||||
| (7) | Table video games and gaming machines that weren’t in operation on account of government-mandated closures or social distancing measures in relation to the COVID-19 outbreak have been excluded | ||||||||||||||||||||
| (8) | Table video games win per unit per day is proven earlier than reductions, commissions, non-discretionary incentives (together with the point-loyalty packages) as administered by the Gaming Operator and allocating on line casino revenues associated to items and companies offered to gaming patrons on a complimentary foundation | ||||||||||||||||||||
| (9) | Gaming machines win per unit per day is proven earlier than non-discretionary incentives (together with the point-loyalty packages) as administered by the Gaming Operator and allocating on line casino revenues associated to items and companies offered to gaming patrons on a complimentary foundation | ||||||||||||||||||||
