Macau SLOT net profits drop by 37pct y-on-y in 2020

Lottery and sports betting concessionaire Macau SLOT Co. Ltd. reported a total of MOP96 million (US$12.1 million) in net profits for 2020, a 37 per cent drop from the previous year, its latest financial report indicates.

The company attributed the decrease mainly to the suspension of worldwide sports leagues after the Covid-19 pandemic outbreak.

‘Our company, in addition to cooperating with the respective government policies, also adhered to our customer preferences in order to improve different services to meet the needs of each customer,’ President Ng Chi Sing says in the report

‘Concerning future perspectives, we remain committed to the improvement and search for more diversified products and types of sports betting to satisfy our customers’ needs. In dealing with the rapidly changing environment, we continue to strengthen our computer technology and sports information facilities to provide more comprehensive sports betting services.’

The company has held the exclusive concession in the city for betting on football and basketball, however, after a recent three-year extension to its concession it will no longer have the exclusive rights to this market.