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Gross gaming revenue in Macau fell 68% year-over-year during May to 3.34B patacas ($410M), according to the Gaming Inspection and Coordination Bureau. The monthly tally was 25% higher than the mark from April, but missed the consensus expectation for a drop of 64%. GGR is down 44% to $24.79B ...
Gross gaming revenue in Macau showed a slight improvement last week, but remained below EBITDA break-even levels, according to checks by Jefferies. Analyst David Katz said there is some incremental progress with visitation to the gambling mecca as Portuguese non-resident nationals will be all...
The latest signals from Macau’s government should alleviate some investor concerns, according to Citi. The special administrative region’s government is showing itself to be “pragmatic and sensible” by tabling some adverse regulations on casino ownership and revisi...
Gross gaming revenue in Macau fell 68% year-over-year during April to 2.68B patacas ($331M), which marked the lowest tally for the gambling region in 18 months and fell short of the expectation of analysts. Revenue fell 27% in April from the level recorded in March and was 89% off from the pr...
Las Vegas Sands (LVS +5.1%) gained the most of any consumer stock in the S&P 500 Index after the emergency approval of the Pfizer antiviral pill is seen by analysts and investor as an indication that the zero-tolerance COVID policy in China could be lifted after the Olympics. The emergenc...
JPMorgan forecasts 2022 gross gaming revenue in Macau will be just over 50% of the pre-pandemic level seen in 2019 off a 70% recovery in mass and a 24% recovery in VIP. That is a slight lift to the previous outlook. Jefferies is also incrementally positive on the Macau outlook. Analyst David ...
Macau casino gross gaming revenue fell by 40.0% in October on a year-over-year comparison to 4.37B patacas ($545M) vs. -42% consensus estimate. On a sequential basis GGR was down 25.8% during the month. A new COVID-19 alert at the beginning of the month impacted tourism negatively during what...
Today is a key date for the Macau sector with a couple of incremental steps taking place in the slow return to normal tourism, updates Jefferies analyst David Katz. Several entertainment venues are reopening after being closed since October 6 and Zhuhai will relax its policy to requiring a ne...
The Macau casino sector continues to slump as COVID restrictions hold back traffic. The first two days of the Golden Week holiday saw just 3,122 visitors, which is significantly lower than the 22,116 who arrived for the same period last year and is less than 1% of the 2019 traffic level, acco...
Jefferies warns on more troubles for the Macau sector in the near term as COVID restrictions remain ahead of a key holiday period. Analyst David Katz and team believe the upcoming Golden Week holidays is likely to disappoint similar to the Chinese New Year due to the potential for new travel ...