Mohegan Gaming & Entertainment Announces Fourth Quarter Fiscal 2020 Operating Results

UNCASVILLE, Conn., Dec. 22, 2020 /PRNewswire/ -- Mohegan Gaming & Entertainment ("MGE" or the "Company"), a master developer and operator of premier global integrated entertainment resorts, including Mohegan Sun in Uncasville, Connecticut, Mohegan Sun Pocono in Plains Township, Pennsylvania, the MGE Niagara Resorts in Niagara Falls, Canada and INSPIRE Entertainment Resort in Incheon, South Korea, announced today operating results for its fourth fiscal quarter ended September 30, 2020.

"The MGE team and our property portfolio performed remarkably well during the fiscal fourth quarter. Despite re-opening the majority of our properties in the summer with COVID-related reductions in capacity and entertainment offerings, consolidated Adjusted EBITDA for the September quarter was only down modestly compared to last year, demonstrating the overall resilience of our business and the strength of our product and brand," said Mario Kontomerkos, President & Chief Executive Officer of MGE. "Importantly, excluding the impact of the MGE Niagara Resorts, which were closed during the period, same-store adjusted EBITDA grew 15.9% over the prior year, while same-store Adjusted EBITDA margins improved over 800bps. Recent steep increases in infections in virtually all of our markets globally has resulted in temporary weakness in business volumes at our operations and has slowed progress in both the construction of Inspire Korea and in the re-opening of the MGE Niagara Resorts and the Mohegan Sun Casino in Las Vegas. Looking beyond the virus, however, we remain quite positive as our business has been optimized to benefit from what we foresee to be significant pent-up demand for leisure consumption in the months and years ahead."

Selected consolidated operating results for the fourth quarter ended September 30, 2020 and prior year period (unaudited):

  • Net revenues of $294.0 million vs. $414.0 million in the prior year period, a 29.0% decrease;

  • Income from operations of $50.2 million vs. $15.7 million in the prior year period, a 219.7% increase; and

  • Adjusted EBITDA of $82.8 million vs. $89.4 million in the prior year period, a 7.4% decrease.

Consolidated net revenues decreased 29% driven primarily by the continued closure of MGE Niagara Resorts along with declines in retail, F&B and entertainment revenues at Mohegan Sun and Mohegan Pocono. These declines can be largely attributed to COVID-related closures and reductions in capacity or similar protocols. Declines in revenue were partially offset by positive growth in gaming revenues at Mohegan Sun. Adjusted EBITDA decreased 7.4% during the quarter, reflecting the impact of the continued closure of MGE Niagara Resorts. Excluding the impact of Niagara Resorts, which were closed during the quarter, consolidated net revenues decreased by 12.8% and Adjusted EBITDA increased 15.9%, reflecting stronger EBITDA performance both from Mohegan Sun and in the Management, Development and Other segment. Margin performance was driven by lower overall payroll and marketing expenses, permanently reducing the overall cost structure at MGE.

Mohegan Sun

Operating results (in thousands, unaudited):



For the Three Months Ended


September 30,


September 30,




Percentage


2020


2019


Variance


Variance

Net revenues

$ 211,814


$ 249,928


$(38,114)


(15.2%)

Income from operations

$ 62,498


$ 43,488


$ 19,010


43.7%

Adjusted EBITDA

$ 80,113


$ 64,811


$ 15,302


23.6%

Net revenues declined 15.2% during the quarter, driven by declines in non-gaming revenues due to COVID-related closures and voluntary reductions in non-gaming capacity. Declines in non-gaming revenues were partially offset by a 4.8% increase in gaming revenues during the period. Slot volumes declined 9.7%, while table volumes decreased 4.8%, with declines in volumes offset by a 71 basis point and 234 basis point increase in net hold rate, respectively, highlighting the reduction in the promotional activity in the period. Adjusted EBITDA increased during the quarter, reflecting significantly better margin performance due to declines in overall labor, marketing and promotional expenses. Overall EBITDA margin at the property improved to 37.8%, up 1,189 basis points from 25.9% in the prior year quarter. Assuming stable revenues, we expect to retain a material portion of this expense improvement going forward.

Mohegan Sun Pocono

Operating results (in thousands, unaudited):



For the Three Months Ended


September 30,


September 30,




Percentage


2020


2019


Variance


Variance

Net revenues

$ 55,592


$ 63,629


$ (8,037)


(12.6%)

Income (loss) from operations (1)

$ 7,562


$ (31,263)


$ 38,825


N.M.

Adjusted EBITDA

$ 10,804


$ 11,759


$ (955)


(8.1%)


______________

(1) Loss from operations for the three months ended September 30, 2019, includes a $39.5 million impairment charge related to Mohegan Sun Pocono's goodwill. N.M. - Not Meaningful.

Net revenues declined 12.6% during the quarter, primarily driven by declines in non-gaming revenues which were adversely impacted by COVID-related closures and mandated reductions in capacity. Gaming revenues experienced a more modest 1.9% decline, reflecting positive contributions from iGaming and Unibet Sportsbook. Adjusted EBITDA decreased 8.1% during the quarter, reflecting better margin performance due to declines in overall labor, marketing and promotional expenses. Assuming stable revenues, we expect to retain a material portion of this expense improvement going forward.

MGE Niagara Resorts

Operating results (in thousands, unaudited):



For the Three Months Ended


September 30,


September 30,




Percentage


2020 (1)


2019


Variance


Variance

Net revenues

$ 12,423


$ 91,237


$(78,814)


N.M.

Income (loss) from operations

$ (14,513)


$ 4,784


$(19,297)


N.M.

Adjusted EBITDA

$ (9,071)


$ 10,191


$(19,262)


N.M.


______________

(1) The MGE Niagara Resorts were temporarily closed during the three months ended September 30, 2020 due to COVID-19. N.M. - Not Meaningful.

EBITDA losses at MGE Niagara reflect the impact of the property being temporarily closed for the three months ending September 30, 2020, due to restrictive COVID-19 mandated measures implemented by the Ontario Government. Despite the decline in Adjusted EBITDA, cash flows from the MGE Niagara Resorts during the quarter were approximately breakeven, as the properties continue to receive both the Fixed Service Provider Fee as well as Permitted Capital Expenditures while closed. Additionally, Fallsview rent payments have been deferred to the end of the initial lease term while closed, minimizing the overall cash flow impact on MGE during the quarter and while the property is closed. Efforts to reopen the properties continue, but we are unable to predict when they will reopen at this time.

Management, Development and Other

Operating results (in thousands, unaudited):



For the Three Months Ended


September 30,


September 30,




Percentage


2020


2019


Variance


Variance

Net revenues

$ 13,177


$ 9,961


$ 3,216


32.3%

Income (loss) from operations

$ (286)


$ 820


$ (1,106)


N.M.

Adjusted EBITDA

$ 6,028


$ 4,806


$ 1,222


25.4%


______________

N.M. - Not Meaningful.

Net revenues increased due to continued growth in management fees from ilani, driven by continued EBITDA growth at the property despite several disturbances during the quarter in the nearby Portland, Oregon feeder market and COVID-related impacts. EBITDA performance also reflects higher expenses associated with ongoing domestic and international development efforts.

Corporate

Operating results (in thousands, unaudited):



For the Three Months Ended


September 30,


September 30,




Percentage


2020


2019


Variance


Variance

Net revenues

$ 303


$ 20


$ 283


N.M.

Loss from operations

$ (5,079)


$ (1,468)


$ (3,611)


N.M.

Adjusted EBITDA

$ (5,057)


$ (1,450)


$ (3,607)


N.M.


______________

N.M. - Not Meaningful.

The decline in Adjusted EBITDA was principally due to the impact of certain non-recurring payroll and consulting credits in the prior year.

MGE Property Information



Net Revenues


Income (Loss) from Operations


Adjusted EBITDA

(in thousands, unaudited)

For the Three Months Ended


For the Three Months Ended


For the Three Months Ended




September 30,


September 30,


September 30,


September 30,


September 30,


September 30,




2020


2019


2020


2019


2020


2019

Mohegan Sun

$ 211,814


$ 249,928


$ 62,498


$ 43,488


$ 80,113


$ 64,811

Mohegan Sun Pocono

55,592


63,629


7,562


(31,263)


10,804


11,759

MGE Niagara Resorts

12,423


91,237


(14,513)


4,784


(9,071)


10,191

Management, development and other

13,177


9,961


(286)


820


6,028


4,806

Corporate

303


20


(5,079)


(1,468)


(5,057)


(1,450)

Inter-segment

701


(769)


(32)


(705)


(32)


(705)

Total

$ 294,010


$ 414,006


$ 50,150


$ 15,656


$ 82,785


$ 89,412















Other Information

Liquidity
As of September 30, 2020 and September 30, 2019, MGE held cash and cash equivalents of $112.7 million and $130.1 million, respectively. Inclusive of letters of credit, which reduce borrowing availability, MGE had $50.8 million of borrowing capacity under its senior secured revolving facility and line of credit as of September 30, 2020.

About Mohegan Gaming & Entertainment

MGE is primarily engaged in the ownership, operation and development of integrated entertainment facilities, both domestically and internationally, including: (i) Mohegan Sun in Uncasville, Connecticut, (ii) Mohegan Sun Pocono in Plains Township, Pennsylvania, (iii) Niagara Fallsview Casino Resort, Casino Niagara and the 5,000-seat Niagara Falls Entertainment Centre, all in Niagara Falls, Canada, (iv) Resorts Casino Hotel in Atlantic City, New Jersey, (v) ilani Casino Resort in Clark County, Washington, (vi) Paragon Casino Resort in Marksville, Louisiana and (vii) INSPIRE Entertainment Resort, a first-of-its-kind, multi-billion dollar integrated resort and casino under construction at Incheon International Airport in South Korea. For more information on MGE and our properties, visit www.mohegangaming.com.

Special Note Regarding Forward-Looking Statements

Some information included in this press release may contain forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements can sometimes be identified by the use of forward-looking words such as "may," "will," "anticipate," "estimate," "expect" or "intend" and similar expressions. Such forward-looking information may involve important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of MGE. Information concerning potential factors that could affect MGE's financial results is included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2019, as well as in MGE's other reports and filings with the Securities and Exchange Commission. Any forward-looking statements included in this press release are made only as of the date of this release. MGE does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. MGE cannot assure that projected results or events will be achieved or will occur.

MOHEGAN GAMING & ENTERTAINMENT

CONSOLIDATED STATEMENTS OF INCOME (LOSS)

(in thousands)

(unaudited)












For the


For the


For the


For the



Three Months Ended


Three Months Ended


Fiscal Year Ended


Fiscal Year Ended



September 30, 2020


September 30, 2019


September 30, 2020


September 30, 2019

Revenues:









Gaming


$ 230,005


$ 267,240


$ 799,647


$ 936,412

Food and beverage


12,580


52,059


103,678


157,544

Hotel


18,820


28,459


69,113


97,235

Retail, entertainment and other


32,605


66,248


142,524


197,619

Net revenues


294,010


414,006


1,114,962


1,388,810

Operating costs and expenses:









Gaming


114,675


161,866


444,875


551,738

Food and beverage


12,502


42,203


91,662


123,814

Hotel


8,967


10,595


35,578


42,476

Retail, entertainment and other


8,842


30,132


54,020


93,335

Advertising, general and administrative


53,820


74,052


226,588


223,716

Corporate


12,218


7,152


44,177


45,880

Depreciation and amortization


26,220


29,975


109,067


122,657

Impairment of Mohegan Sun Pocono's intangible assets


-


-


126,596


-

Impairment of Mohegan Sun Pocono's goodwill


-


39,459


-


39,459

Other, net


6,616


2,916


15,616


9,273

Total operating costs and expenses


243,860


398,350


1,148,179


1,252,348

Income (loss) from operations


50,150


15,656


(33,217)


136,462

Other income (expense):









Interest income


205


1,164


1,754


6,803

Interest expense, net of capitalized interest


(36,095)


(37,298)


(134,925)


(144,130)

Loss on modification of debt


(2,888)


-


(2,888)


-

Other, net


3,470


830


566


(482)

Total other expense


(35,308)


(35,304)


(135,493)


(137,809)

Income (loss) before income tax


14,842


(19,648)


(168,710)


(1,347)

Income tax benefit (provision)


3,678


(1,029)


6,694


(1,029)

Net income (loss)


18,520


(20,677)


(162,016)


(2,376)

(Income) loss attributable to non-controlling interests


70


29


(139)


(169)

Net income (loss) attributable to Mohegan Gaming & Entertainment


$ 18,590


$ (20,648)


$ (162,155)


$ (2,545)










MOHEGAN GAMING & ENTERTAINMENT

ADJUSTED EBITDA RECONCILIATIONS












Reconciliations of Net Income (Loss) to Adjusted EBITDA:

















Reconciliations of net income (loss), a financial measure determined in accordance with accounting principles generally
accepted in the United States of America, or GAAP, to Adjusted EBITDA are shown below (in thousands, unaudited):

























For the Three Months Ended







September 30,


September 30,







2020


2019











Net income (loss)




$ 18,520


$ (20,677)


Income tax (benefit) provision





(3,678)


1,029


Interest expense, net of capitalized interest




36,095


37,298


Loss on modification of debt




2,888


-


Interest income




(205)


(1,164)


Other, net





(3,470)


(830)


Income from operations




50,150


15,656


Adjusted EBITDA attributable to non-controlling interests




(201)


(122)


Depreciation and amortization




26,220


29,975


Impairment of Mohegan Sun Pocono's goodwill




-


39,459


Other, net




6,616


4,444


Adjusted EBITDA




$ 82,785


$ 89,412










Reconciliations of Income (Loss) from Operations to Adjusted EBITDA:















Reconciliations of income (loss) from operations, a financial measure determined in accordance with GAAP, to Adjusted EBITDA, are shown below (in thousands, unaudited):


















For the Three Months Ended September 30, 2020












Adjusted EBITDA






Income (Loss)


Depreciation


Impairment of




Attributable to






from


and


Mohegan Sun Pocono's




Non-Controlling


Adjusted




Operations


Amortization


Goodwill


Other, net


Interests


EBITDA

Mohegan Sun


$ 62,498


$ 17,563


$ -


$ 52


$ -


$ 80,113

Mohegan Sun Pocono


7,562


3,269


-


(27)


-


10,804

MGE Niagara Resorts


(14,513)


5,356


-


86


-


(9,071)

Management, development and other


(286)


10


-


6,505


(201)


6,028

Corporate


(5,079)


22


-


-


-


(5,057)

Inter-segment


(32)


-


-


-


-


(32)


Total


$ 50,150


$ 26,220


$ -


$ 6,616


$ (201)


$ 82,785
































For the Three Months Ended September 30, 2019












Adjusted EBITDA






Income (Loss)


Depreciation


Impairment of




Attributable to






from


and


Mohegan Sun Pocono's




Non-Controlling


Adjusted




Operations


Amortization


Goodwill


Other, net


Interests


EBITDA

Mohegan Sun


$ 43,488


$ 21,065


$ -


$ 258


$ -


$ 64,811

Mohegan Sun Pocono


(31,263)


3,473


39,459


90


-


11,759

MGE Niagara Resorts


4,784


5,407


-


-


-


10,191

Management, development and other


820


12


-


4,096


(122)


4,806

Corporate


(1,468)


18


-


-


-


(1,450)

Inter-segment


(705)


-


-


-


-


(705)


Total


$ 15,656


$ 29,975


$ 39,459


$ 4,444


$ (122)


$ 89,412















Adjusted EBITDA Explanation:
Net income before interest, income taxes, depreciation and amortization, or EBITDA, is a commonly used measure of performance in the casino and hospitality industry. EBITDA is not a measure of performance calculated in accordance with GAAP. MGE historically has evaluated its operating performance with the non-GAAP measure, Adjusted EBITDA, which as used in this press release, primarily represents net income before interest, taxes, depreciation and amortization and impairment charges.

Adjusted EBITDA provides an additional way to evaluate MGE's operations and, when viewed with both MGE's GAAP results and the reconciliations provided, MGE believes that it provides a more complete understanding of its business than could be otherwise obtained absent this disclosure. Adjusted EBITDA is presented solely as a supplemental disclosure because: (1) MGE believes it enhances an overall understanding of MGE's past and current financial performance; (2) MGE believes it is a useful tool for investors to assess the operating performance of the business in comparison to other operators within the casino and hospitality industry since Adjusted EBITDA excludes certain items that may not be indicative of MGE's operating results; (3) measures that are comparable to Adjusted EBITDA are often used as an important basis for the valuation of casino and hospitality companies; and (4) MGE uses Adjusted EBITDA internally to evaluate the performance of its operating personnel and management and as a benchmark to evaluate its operating performance in comparison to its competitors.

The use of Adjusted EBITDA has certain limitations. Adjusted EBITDA should be considered in addition to, not as a substitute for or superior to, any GAAP financial measure including net income (as an indicator of MGE's performance) or cash flows provided by operating activities (as an indicator of MGE's liquidity), nor should it be considered as an indicator of MGE's overall financial performance. MGE's calculation of Adjusted EBITDA is likely to be different from the calculation of Adjusted EBITDA or other similarly titled measurements used by other casino and hospitality companies, and therefore, comparability may be limited. Adjusted EBITDA eliminates certain items from net income, such as interest and depreciation and amortization. Each of these items has been incurred in the past, will continue to be incurred in the future and should be considered in the overall evaluation of MGE's results. MGE compensates for these limitations by providing relevant disclosures of items excluded in the calculation of Adjusted EBITDA, both in its reconciliations to the GAAP financial measure of net income and in its consolidated financial statements, all of which should be considered when evaluating its results. MGE strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure.

Contact:
Christopher Jones
Vice President, Corporate Finance
Mohegan Gaming & Entertainment
(860) 862-8000

Cision
Cision

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SOURCE Mohegan Gaming & Entertainment

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    Televangelist Pat Robertson acknowledged on Monday's 700 Club that President-elect Joe Biden won, predicted "we'll be seeing a President Kamala Harris not too long after the inauguration of President Biden," and said it's time for President Trump to concede and retire from politics. Robertson, a leading voice of the religious right since the 1980s, has generally — though not always — backed Trump, along with most other prominent evangelical Christian leaders.Trump is ramping up an increasingly fringy last-ditch effort to stay in office, but he's losing allies fast.> Bill Barr, Pat Robertson, Mitch McConnell, and Vladimir Putin have all bailed on Trump in the past week.> > — Windsor Mann (@WindsorMann) December 22, 2020After conceding that Biden will take office and predicting he will either die or resign before too long, Robertson said "it would be a mistake" for Trump to run again in 2024. "My money would be on Nikki Haley," he added. "I think she'd make a tremendous candidate for the Republican Party." Robertson then offered a sober assessment of Trump."You know, with all his talent and the ability to be able to raise money and grow large crowds, the president still lives in an alternate reality," Robertson said. "He really does. People say, 'Well, he lies about this, that, and the other.' But no, he isn't lying; to him, that's the truth." He said Trump has "done a marvelous job for the economy, but at the same time he is very erratic, and he's fired people and he's fought people and he's insulted people and he keeps going down the line." With Trump, "it's a mixed bag," Robertson said, "and I think it would be well to say, 'You've had your day and it's time to move on.'"> Televangelist Pat Robertson declares that Biden will be president and that Trump "lives in an alternate reality," "is very erratic," and should not run again in 2024: "You've had your day and it's time to move on." pic.twitter.com/2WYCZOSNTO> > — Right Wing Watch (@RightWingWatch) December 21, 2020"Pat Robertson just proved that evolution exists, even in people who don't believe in evolution," comedian John Fugelsang quipped. But Trump can take a shred of comfort in the fact that Robertson's predictions haven't always — or even usually — borne out. In October, for example, he said God told him Trump would be re-elected, then an asteroid would hit the Earth.More stories from theweek.com Are the worst days of the Trump presidency still ahead? Texas veers away from national vaccination guidelines, will prioritize over 65 age group before essential workers Biden has reportedly landed on Miguel Cardona, Connecticut schools chief, for education secretary

  • Stimulus checks: Mnuchin announces when Americans will get second payment

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  • Grace Millane's murderer had raped another British tourist just months before attack

    The man who murdered British backpacker Grace Millane in New Zealand has been convicted of sex attacks on two more women, it was revealed on Monday. New Zealand’s Supreme Court removed an order keeping the killer’s name hidden, meaning his identity could be made public: Jesse Kempson. The previous convictions of the 28-year-old Kempson, who killed Millane in December 2018, also became known as his identity was made public. Kempson raped another British tourist eight months before his attack on Millane. He had taken the woman out on a Tinder date in April 2018 before bringing her back to his motel room in Auckland, a city on the country’s north island. The woman had initially kept the attack secret but after news coverage of the day Kempson was charged she went to the police to report what had happened. Kempson was eventually sentenced to three-and-a-half years in jail for the rape last month. The case was not made public at the time. Shortly after Kempson was named on Monday the Guardian reported some of the remarks made in court when that previous conviction was handed down. The paper reported that Justice Geoffrey Venning in a New Zealand high court said: “Your mother rejected you; that may go some way towards explaining your attitude towards women.”

  • 35 Outdoor Fire Pit Ideas That Are Lit

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  • Hong Kong protester shot by police last year now in exile - group

    A Hong Kong student protester who was shot by police during last year's anti-government demonstrations and later charged with rioting and assaulting officers is in exile in an undisclosed location, an advocacy group said on Tuesday. Tsang Chi-kin, 19, was shot and wounded on Oct. 1, 2019, during protests on China's national day, the first of two people who police shot during months of pro-democracy protests in the former British colony. Tsang did not show up for a court hearing earlier on Tuesday and a British-based, anti-China advocacy group, Friends of Hong Kong, said he and some fellow protesters had left the city.

  • 5 Army Weapons Soldiers Might Actually Get Their Hands on Soon

    Army modernization officials have tested new, longer-range and more precise infantry weapon systems.

  • Report: Federal prosecutors have discussed obtaining Rudy Giuliani's emails

    Federal prosecutors for the Southern District of New York have been discussing with Justice Department officials in Washington whether to make a legal request for Rudy Giuliani's emails, two people with knowledge of the matter told NBC News.Giuliani, the former mayor of New York City, is President Trump's personal lawyer. Under Justice Department policy, prosecutors must get approval from Washington before asking a judge to sign a search warrant for items that might be protected by attorney-client privilege; NBC News notes that it is not known if the approval was granted.In October 2019, The Wall Street Journal reported that SDNY prosecutors were investigating Giuliani and his business dealings in Ukraine, and as part of the probe, they examined Giuliani's bank records. That same month, two of Giuliani's associates, Lev Parnas and Igor Fruman, were arrested and charged with campaign finance fraud. Parnas and Fruman both helped Giuliani try to dig up dirt in Ukraine about President-elect Joe Biden and his son, Hunter Biden.The Washington Post reported in February that prosecutors had started talking with witnesses in an attempt to gather more documents for the investigation, and two people familiar with the matter stressed to NBC News that the probe is ongoing, with one saying it is "very active."Giuliani's attorney, Robert Costello, told NBC News he has "no reason to believe there's any truth to the allegations that there is renewed interest in my client." Earlier this month, The New York Times reported that Trump has talked with advisers about granting Giuliani a preemptive pardon.More stories from theweek.com Televangelist Pat Robertson says Biden won, won't be president long, urges 'erratic' Trump to retire Are the worst days of the Trump presidency still ahead? Texas veers away from national vaccination guidelines, will prioritize over 65 age group before essential workers

  • ‘Plenty of perjury’: MAGA lawyer files Georgia elections lawsuit with glaring typo

    The Trump campaign and its allies have filed numerous error-filled suits challenging election results across the country

  • Man charged with murder in 1988 disappearance of 9-year-old Michaela Garecht

    David Misch, 59, has been arrested and charged with murder in the 1988 disappearance of 9-year-old Michaela Garecht, who vanished from a supermarket parking lot more than three decades ago while trying to retrieve a friend’s scooter that authorities said the abductor had moved closer to his vehicle. Misch is already serving prison time for the murder of a Hayward woman and faces trial for the murders of two women in 1986. Michaela’s remains have still not been found.

  • Duke and Duchess of Cambridge accused of 'inadvertently' flouting the rule of six

    The Duke and Duchess of Cambridge were accused on Monday of “inadvertently” flouting the rule of six after meeting up with the Earl and Countess of Wessex with their children at a Christmas attraction. The Cambridges were photographed at Luminate, a woodland walk on the Queen’s Sandringham estate, with their three children, Prince George, seven, Princess Charlotte, five, and Prince Louis, two, on Sunday evening. They appeared to be with the Wessexes and their two children, Lady Louise Windsor, 17, and James Viscount Severn, 13. Both groups arrived separately, the Cambridge’s from their Norfolk home, Anmet Hall, and the Wessexes from their home, Bagshot Park in Surrey. They had been given consecutive slots to enter the mile-long illuminated trail, but fellow visitors said the two families were clearly mixing and chatting together. Norfolk is in Tier 2, meaning that only six people can meet up outdoors if not from the same the same household. The whole of Surrey, bar Waverley, is in Tier 4, meaning that residents should not travel into another tier.

  • China's Sinovac COVID-19 vaccine proves effective in Brazil trials - WSJ

    Sao Paulo state's Butantan Institute, which is organizing the late-stage trials of Sinovac's vaccine CoronaVac in Brazil, said on Monday that any reports on the efficacy of the shot before a Wednesday announcement were "mere speculation." Brazil is the first country to complete late-stage trials of CoronaVac, which is also being tested in Indonesia and Turkey, the Journal reported https://www.wsj.com/articles/sinovacs-covid-19-vaccine-shown-to-be-effective-in-brazil-trials-11608581330?mod=latest_headlines. The results from the Brazil trials put CoronaVac above the 50% threshold that international scientists deem necessary to protect people, the Journal report said.