MCHVF News and Press, Mgm China Holdings Ord From 02/01/21

Gross gaming revenue in Macau fell 63.7% Y/Y in January to 8.02B patacas ($1.0B), but showed sequential improvement from the mark in December and topped the consensus expectation from analysts for a drop of 67%. Visitation bottlenecks due to visa processing and COVID-test requirement slowed d...

An investor pushing for MGM Resorts (MGM) to sell a 20% stake in MGM China (MCHVF) to a Chinese company may not get very far as MGM unlikely to sell its equity ``anywhere close'' to current levels, JPMorgan said in note earlier.Snow Lake Capital, which has a 7.5% stake in MGM China, is advoca...

Bank of American weighs in on the 66% drop in Macau gross gaming revenue for December. "The MoM growth was partly helped by the Christmas holiday season. Macau government has imposed stricter quarantine rules on Dec 21, requiring people arriving Macau from locations except mainland China and ...

Gross gaming revenue in Macau fell 65.8% in December to 7.83B patacas ($980M) as the slow pace of recovery continued with more Mainland visitors trekking to the reawakening gambling mecca. Some late month strength was noted as visitation to Macau averaged 24,503 per day for December 23-27, wh...

CFRA turns incrementally more positive on the Macau sector on early signs that it is gradually rebounding. Analyst Aaron Ho notes the domestic tourism market in China is gaining traction after the effective containment of COVID-19 has given consumers the confidence to return to leisure activi...

Another tough month is in the books for the Macau sector as gross gaming revenue fell 70.5% in November to 6.75B patacas, according to the Gaming Inspection and Coordination Bureau. The consensus estimate was for a drop of 69.8%. On a sequential basis, GGR was down 7.2% from October. Gross ga...

Some good news arrives out of Macau for a change, with the airport likely to handle 33% more daily flights in November than it did in October, according to GGRAsia. Most of the increase is reported by Macau International Airport Co. to be for flights serving mainland China cities. Notably, th...

The casino sector is set up for a good day after Pfizer reports 90% success for its vaccine in a Phase 3 study. "Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine's ability to prevent CO...

Gross gaming revenue in Macau fell 72.8% in October to $7.27B patacas, according to the Macau Gaming Inspection and Coordination Bureau. The mark was better than the -74% decline anticipated by analysts.Gamblers are reported to have started returning to Macau casinos at a higher rate during t...

Union Gaming turns cautious on the Macau sector after failing to see any signs of a recovery. "Currently, there's too much friction for a large scale recovery in visitation. Although visas are available, the online/automated process is not. Travelers need to apply in person and processing tim...