Macau 05 (Jan 17 - Dec 20)

Re: Macau 05 (Jan 17 - Dec 20)

Postby winston » Thu Sep 17, 2020 1:53 pm

Macau:-

(1) GGR has remained soft, tracking 10-15% of normal level even though visitation is getting stronger to reach 20% level with IVS visas for Guangdong (used to contribute 20-30% of GGR).

While the IVS will be fully reopened on 23 Sep, the short booking period and COVID testing could drag the demand for national day holidays ahead.

(2) Less player spend: The crackdowns on shadow banking and overseas gambling have hurt the junket system and player sentiments.

Pawnshops also lowered the transaction size for money withdrawals to minimize their regulatory risks.

Premium mass players have their initial buy-ins smaller and their betting size dropping by half compared with normal level.

(3) License renewal is yet to be clear and will remain a risk in 2021. It is likely to have more colour after the policy consultation for Macau's urban master plan 2020-40 finishes in Nov.

(4) Key projects: see no significant delays so far. Grand Lisboa Palace continues to target its opening by end-2020.

(5) Daily opex: would gradually go up along with the recovery but sees room for permanent savings.

Source: CS
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Re: Macau 05 (Jan 17 - Dec 20)

Postby winston » Mon Sep 21, 2020 7:27 am

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Macau casinos face cash crunch

by Kevin Xu

Macau casinos are facing a liquidity crunch due to a double whammy of travel restrictions and Beijing's anti-money laundering campaign, according to media reports.

In June, Beijing had identified the cross-border flow of funds for gambling as a national security risk.

Since then, financing channels used by the online gambling sector and cryptocurrency lending platforms have been cut off, with tens of thousands of suspects arrested, according to reports.

The mainland government is said to be keeping an eye on large money transfers and many bank accounts have been frozen, a source said.

Meanwhile, many deep-pocketed gamblers are in a rush to withdraw money from the casinos that offer deposit services and higher interest rates than banks, over fears of casino shutdowns.

And with the mainland government cracking down on underground banks moving money in and out of the country, casinos find it more difficult to get money from them, the report said.

Macau announced last month that tourist visas, through which most visitors enter the territory, would be reinstated for all provinces from September 23.

Gaming revenue in the casino hub plunged by 94.5 percent year-on-year in August to 1.33 billion patacas.

Five out of 23 hotels tracked by Morgan Stanley have been already fully booked for the first five days of China's October Golden Week holiday period.

However, analyst David Bain of Roth Capital Partners says general growth of visitor numbers to Macau, and a possible uptick of casino business during the Golden Week holiday period, might not be "as exciting" as some commentators are hoping.

Source: The Standard

https://www.thestandard.com.hk/section- ... ash-crunch
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Re: Macau 05 (Jan 17 - Dec 20)

Postby winston » Mon Sep 21, 2020 2:10 pm

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No CN Travelers Seek Info about Macau's Oct 1 Hotel Booking Yet; 5-star Hotel Room Rate Sinks to MOP800-ish: Travel Agencies

Macao Daily learnt from travel agencies that they have up to this moment received no enquiries from Chinese travelers about hotel booking for the "National Day Golden Week" and that the room rate at some 5-star hotels is now around MOP800 only, as compared with last year's MOP4,000-5,000.

The efforts may not pay off this golden week holiday as expected because it coincides with the mid-autumn festival holiday, opined the travel agencies.

Related News: C Suisse Cuts Macau 2020E GGR to -81% YoY

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 20)

Postby winston » Thu Sep 24, 2020 1:26 pm

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Macau Casinos Reportedly Limit VIP's Winning Chip Exchange into HKD; Industry: Betting Mood Undermined

Rumor has been spiraling across market that Macau's casinos restrict VIPs' request for exchange of winning chips into Hong Kong dollar, on worry of deteriorating economy and insufficient HKD liquidity, Macao Daily News reported.

Industry players disclosed that winning chips are not unable to be exchanged into cash although VIPs have made such requests, adding exchange limitations are leading the sector to raise doubts.

Casino operators wished such initiatives are only temporary; if for long term, it will greatly impact the VIP and undermine VIP goodwill which will in turn trigger loss of big spenders.

Source: AAStocks Financial News
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