Macau 06 (Jun 21 - Dec 24)

[winston]

Macau gaming revenue misses estimates

Macau's gross gaming revenue rose 513 percent to 15.2 billion patacas (HK$14.76 billion) in June, slightly missing estimates, amid concerns the initial post-reopening Chinese tourist boom is fading.

Revenue was 2.3 percent lower than the previous month and a 36 percent drop from the 2019 level, according to the Gaming Inspection and Coordination Bureau.

June's gaming revenue slowed despite the Dragon Boat Festival holiday and high-profile concerts, a sign casinos face an increasingly challenging task in enticing visitors to spend money.

Casino operators have stepped up efforts to diversify into non-gaming activities after China's crackdown on high rollers almost wiped out the VIP sector that used to contribute half of the city's gaming revenue.

In May, South Korean girl group Blackpink performed two concerts at Galaxy Entertainment's (0027) resort, and Melco International Development's (0200) venue featured Cantopop star Leon Lai Ming.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... -estimates

[winston]

MGTO Says MO Hotel Occupancy Rate Near 90% Last Week, Finds Situation 'Satisfactory'

Maria Helena de Senna Fernandes, director of the Macau Government Tourism Office (MGTO), noted that Macau's hotel occupancy rate was nearly 90% last week, which is a satisfactory situation, Macao Daily News reported.

She said international visitors to Macau have been picking up, with the average daily number of visitors recently rising to 3,000-4,000, with some days exceeding 5,000, depending on the number of flights.

Related News: JPM Slightly Cuts TPs on MGM & SJM; Top Picks Galaxy & Sands

MGTO will step up efforts to promote tourism abroad, including participation in travel fairs organized by overseas countries and regions, and cooperation with local travel agencies to sell travel packages.

After comprehensive consideration, MGTO has decided to extend the subsidy scheme for travel agencies to attract Taiwan and overseas tour groups until the end of the year, in view of more tourism activities to be launched in the second half of the year.

MGTO will also continue to promote tourism in places such as Singapore, Malaysia and Thailand, and will embark on a promotional trip to South Korea next week.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

Macau rooms fast filling up

The hotel occupancy rate in Macau surged by 44.4 percentage points to 84.3 percent last month from a year earlier, as the number of hotel guests rocketed 1.7 times to 1.14 million in the month.

The average occupancy rate in the first half of the year also rose 40.3 percentage points to 78 percent with the number of occupants growing 1.3 times to 6.05 million, according to the Statistics and Census Service of Macau.

Source: The Standard

https://www.thestandard.com.hk/section- ... filling-up

[winston]

Summer gamblers lift Macau's fortunes

Macau's gross gaming revenue surged more than 4,000 percent from a year earlier to 16.7 billion patacas (HK$16.2 billion) last month

Visitor arrivals in June returned to 71 percent of the pre-pandemic levels.

Hotel occupancy rate reached 89 percent in early July and is expected to maintain around this level during the vacation season.

Gaming revenue for the full year is likely to return to 62 percent of the pre-Covid level.

Gambling income generated from the mass tourist market, the most important indicator of casino profits, is expected to reach almost 90 percent of the pre-Covid levels this year.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... s-fortunes

[winston]

MO Visitor Number Grows 24.9% MoM to 2.759M in July

The Statistics and Census Service of Macau announced that the total number of visitor arrivals to Macao in July this year was 2.759 million, representing a surge of 24.9% MoM and 281.8x YoY, which was mainly due to the increase in visitor arrivals and the lower base in July last year.

The average length of stay of visitors was 1.3 days.

During the period, a total of 2.16 million visitor arrivals were made by land, of which 47% were made via Border Gate, 33% were via the Hong Kong-Zhuhai-Macao Bridge, and 14% were via Hengqin Port.

Related News: SANDS CHINA LTD Interim Results Swing into Profit of US$175M; Adj. Property EBITDA US$939M

In the first seven months, there were 14.4 million visitor arrivals, rising 3.1x YoY.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

Citi Maintains MO Nov GGR Forecast at MOP16B

2023/11/15

Citi Research issued a research report saying that the industry data shows that Macau's total GGR for the first 12 days of November may reach about MOP6.6 billion, implying that the daily run rate of last week amounted to about MOP543 million, down about 3% from the daily run rate of the first 5 days of November of MOP560 million.

Citi Research conservatively kept its November GGR forecast unchanged at MOP16 billion for the time being, reaching about 70% of the same period in 2019, implying that the average daily GGR for the rest of November will reach about MOP522 million.

Related News: HSBC Global Research: MO GGR ADR Falls 3% WoW; Nov GGR Expected to Recover to 70-74% of Pre-COVID-19 Lv

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

Macau Gaming – Positive Forecast on Visitor Arrivals

According to the Macao Government Tourism Office (MGTO), Macau's 2023 tourist arrival tally is likely to over 27m, reaching c.69% of the pre-Covid 2019 level.

In addition, the Macau's Secretary for Economy and Finance, forecasts that Macau may see
visitor arrival volume recover to over 80% of 2019's in 2024.

He said the government's tourism promotion for 2024 include pursuing visitor source markets in “Northeast Asia and Southeast Asia”, with planned discount offers on flights and hotel stays for travelers from those places, as well as an expansion of direct-flight routes.

We remain positive on Macau gaming outlook on the back of undemanding valuation, where the sector is trading at 10x forward EV/EBITDA; and stronger-than-expected gross gaming revenue
recovery.

Related stocks:
▪ MGM China (2282 HK, TP: HKD13.46, Buys: 80.0%, Not Rated)
▪ Sands China (1928 HK, TP: HKD34.15, Buys: 95.7%, Not Rated)

Source: Maybank

[winston]

M Stanley: MO Nov GGR Below Normal Seasonality; Casinos' 4Q EBITDA Expected to Return to ~85% of Pre-Covid Lv

Morgan Stanley issued a research report saying that Macau's GGR amounted to MOP16 billion in November, with an average daily GGR of MOP535 million, equivalent to 70% of the same period of 2019, down 18% MoM, worse than normal seasonality level (down 14% MoM).

GGR for December is expected to be MOP17.1 billion, equivalent to 75% of the same period in 2019, with average daily GGR of MOP552 million, similar to the average level in August (summer holiday month).

Related News: CLSA Downgrades SJM HOLDINGS to Sell; SANDS CHINA LTD & MGM CHINA Top Picks

Morgan Stanley estimated that overall 4Q23 GGR will rally 8% QoQ, and mass GGR will shoot up 7% QoQ, equivalent to 73% and 101% of the same period in 2019, respectively.

Morgan Stanley also expected that 4Q23 gaming industry property EBITDA will leap 11% QoQ to US$2 billion, equivalent to 85% of the same period in 2019.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

Casinos defy China trend as revenue surges

Macau's casino industry defied China's weakened consumer spending last month as gaming revenue surged 433 percent, with the annual take returning to 62.6 percent of pre-Covid levels.

It comes as the number of daily tourist arrivals reached 77,000 on average, back to 70 percent of the pre-pandemic levels.

Despite consumer sentiment weakening, a change in spending patterns has benefited casinos as tourists seek entertainment and other instant gratification activities rather than buying luxury handbags.

Operators said spending per head for premium gamblers remained above 2019 levels and some even noticed high-end customers visited Macau more often despite China's consumption decline.

Still, it could take years for gaming revenue to fully recover after China's crackdown on high-rollers and capital outflows brought the demise of Macau's VIP sector, which contributed half of the city's gambling income before Covid.

Analysts forecast revenue could return to about 76 percent of pre-pandemic levels in 2024.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... nue-surges

[behappyalways]

CCTV Reveals Zhou Zhuohua Online Casino Operations, Domestic Betting Volume of RMB 300 Billion in 4 Years

洗米華案｜央視揭周焯華網絡賭場運作　4年境內投注額3千億人民幣｜01新聞｜央視｜周焯華｜太陽城集團｜澳門｜跨境非法賭博｜詐騙

https://m.youtube.com/watch?v=693xOs5JYB8