Tag Archives: Macau
China – Macau’s casino revenues hit post-pandemic high
Macau’s gaming revenue surged by 450 per cent in April compared to last year’s figures, reaching to MOP14.72bn (US$1.82bn) to become the SAR’s highest total since before the pandemic. Month-by-month revenues increased by 15.6 per cent. April included two days from the national Labor Day holiday that runs until May 3 with hotel bookings during…
US – Extra tables to see MGM China hit pre-pandemic mass gaming levels first
Morgan Stanley believes MGM China and Wynn will lead the charge of Macau’s casinos return to pre-pandemic mass gaming revenues. MGM thas the added advantage of having an extra 197 new gaming tables which came into operation at the start of the year, taking its total to 750 tables compared to 553 before the pandemic….
China – Direct VIP showing first signs of recovery in Macau following collapse of junket market
Whilst the collapse of Macau’s junket business has drastically effected recovery in that segment, direct VIP has been showing the first signs of bouncing back in 2023 so far. JP Morgan analyst DS Kim highlighted that VIP revenues in February were now back at 15 per cent of 2019 revenues, with mass gaming up to…
China – Morgan Stanley predicts narrowing of EBIDTA loss for Macau casinos in Q4
Macau’s casinos should generate EBITDA loss of around US$320m during the fourth quarter of the year, according to Morgan Stanley who believes losses will narrow from the US$459m loss generated in the second quarter and the US$574m produced in the third. It believes Sands China will generate the largest EBITDA loss at US$88m, with SJM…
China – Macau government sticks with 2023 revenue forecast of US$16bn
Macau’s Chief Executive Ho Iat Seng has confirmed that the government believes its 2023 gross gaming revenue forecast of MOP$130bn (US$16bn) will prove accurate. Mr Ho said: “This year’s budget states that gross gaming revenue is MOP$130bn, and the average monthly gross gaming revenue need to be more than MOP$10bn. The government will not revise…
China – Lifting of travel restrictions could see Macau casinos hitting 2019 GGR by the end of the year
With most travel restrictions now lifted for travelers to Macau, JP Morgan has increased its earnings estimates for Macau’s casinos in the first half of this year, even predicting a full return to 2019’s pre-pandemic revenues by the end of the year. The main boost has come with the return of ferry services between Hong…
China – Optimism for 2023 despite Macau’s casinos enduring worst revenues in 20 years
Macau’s casino sector generated the lowest amount in a 20 year history of recorded revenues in 2022 with analysts highlighting the Chinese government’s zero-tolerance on COVID as well travel restrictions, and regional lockdowns as contributing factors in the decline. Macau’s Gaming Inspection and Coordination Bureau has confirmed that gaming revenues for the full year declined…
China – Macau provisionally renews licences for six existing operators
The six existing licence holders in the Macau casino sector have had their concessions tentatively renewed with a bid from Genting rejected. The news saw the biggest ever jump in the share prices of the American-based operators Wynn Resorts, MGM and Las Vegas Sands. The new licenses will kick in at the start of 2023…
China – Macau rules out new mega casino projects with investment level set at $12.5bn
Reports out of Portugal are claiming the combined spend needed by casino operators over a ten-year-period in new investments will be set at $12.5bn, a third of what the six current operators have invested over the last decade. It is believed that Galaxy Entertainment Group and Sands China will both invest around US$2.5bn with the…
