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Tag Archives: Macau

China – Mass gaming up to 95 per cent of pre-pandemic revenues in Macau

Mass gaming revenues in Macau is closing in on pre-pandemic figures, reaching 95 per cent of pre-pendemic revenues in the third quarter, up a remarkable 771 per cent on last year. Deutsche Bank analyst Carlo Santarelli said that overall revenues for the quarter were now up 69 per cent of thr third quarter results of…

China – Macau’s casinos to ‘comfortably’ reach highest post-pandemic revenues in October

JP Morgan believes Macau’s casino will ‘comfortably’ reach its best revenue levels since before COVID of US$2.3bn to US$2.4bn in October. JP Morgan analysts DS Kim, Mufan Shi and Selina Li said it was ‘not surprising but still assuring that the month is on track to hit another post-pandemic high, quite comfortably.’ Revenue for the…

China – Second quarter mass revenue and EBIDTA could edge close to 2019 levels in Macau

Analyts at Morgan Stanley believe Macau’s casino sector EBITDA will hit US$1.6bn in the second quarter, marking a 46 per cent increase from the first quarter with both mass revenue and EBITDA closing in on pre-pandemic figures. Morgan Stanley’s Praveen Choudhary, Gareth Leung and Stephen Grambling predict that second quarter mass and slot revenues will…

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…