Macau 05 (Jan 17 - May 21)

Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Fri May 31, 2019 7:17 am

Casino operators that play cards right will win

Source: SCMP

https://www.scmp.com/business/companies ... -push-make
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Mon Jun 03, 2019 2:05 pm

<Research Report>G Sachs' Forecast on Casinos' Mkt Shrs in Mass GGR (Table)

Goldman Sachs, in its report, listed the market shares forecast of mass GGR of casinos:

Shares│2018│2019E│2020E
SJM HOLDINGS (00880.HK)│16.7%│15.7%│18.8%
SANDS CHINA LTD (01928.HK)│30.4%│30.4%│29.3%
WYNN MACAU (01128.HK)│12.5%│11.8%│11.3%
GALAXY ENT (00027.HK)│18.6%│18.1%│17.4%
Melco Resorts│14%│14.8%│14.3%
MGM CHINA (02282.HK)│7.9%│9.1%│8.9%

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Mon Jun 03, 2019 2:08 pm

<Research Report>G Sachs: RMB Devaluation May Ease Macau's Mass Growth; Sands See More Downside Risks

Macau's GGR in May of MOP25.95 billion (+1.8% YoY) was broadly in line with estimates, meaning a daily run-rate of MOP775 million for recent 12 days, Goldman Sachs said in its report.

The broker opined that uncertainties remain in China-US trade talks, although the long-term growth prospect of Macau's mass is positive.

Given longer time is needed for resolution of trade irritants, RMB devaluation trend may ease mass growth, and may pose risks of downward forecast on GGR and EBITDA of Macau casinos. The valuation of casinos will therefore come under pressure.

Goldman Sachs estimated SANDS CHINA LTD (01928.HK) to see more downside risks in next 12 months because the valuation premium is higher than peers with more VIP, such as GALAXY ENT (00027.HK) and WYNN MACAU (01128.HK).

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 19)

Postby behappyalways » Sat Jun 08, 2019 5:44 pm

Will Macau casinos be targeted in US-China trade war? The odds are shortening for Sheldon Adelson, Trump’s ‘Patron-in-Chief’
https://www.scmp.com/week-asia/opinion/ ... r-odds-are
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Mon Jun 10, 2019 2:13 pm

vested in Galaxy & SJM

<Research Report>BofAML: Casinos' Risk/ Reward Attractive; Expects Long-term Industry Potential Growth of 40%

Macau gaming stocks have amassed 24% retreat since trade war escalation on 5 May.

Bank of America Merrill Lynch attributed the pullback to market worry over trade war, economic slowdown, RMB depreciation, capital scrutiny and casino licence renewal.

The broker forecast Macau gaming profit and market sentiment to better, and the risk/ reward is appealing.

Meanwhile, target prices on casinos were tweaked based on long-term average valuation estimate.

The broker projected 43% long-term potential growth of share prices for the industry.

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Mon Jun 10, 2019 2:14 pm

BofAML Latest Ratings, TPs on Casinos (Table)


Shares│Ratings│Target prices (HK$)

SANDS CHINA LTD (01928.HK) +1.850 (+5.293%) Short selling $87.04M; Ratio 20.244% │Buy│50->47

GALAXY ENT (00027.HK) +3.100 (+6.624%) Short selling $87.42M; Ratio 14.342% │Buy│67.6->64.2

Melco Resorts & Entertainment│Buy│US$32.7->28.1

SJM HOLDINGS (00880.HK) +0.250 (+2.884%) Short selling $7.96M; Ratio 7.114% │Buy│12.3

MGM CHINA (02282.HK) +0.660 (+5.729%) Short selling $9.13M; Ratio 23.134% │Buy│21.2->18.1

WYNN MACAU (01128.HK) +0.560 (+3.581%) Short selling $13.35M; Ratio 14.377% │Buy│26.5->21.8

MELCO INT'L DEV (00200.HK) +0.420 (+2.713%) Short selling $3.65M; Ratio 6.589% │Buy│26.3->22.2

Source: AAstocks.com
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Thu Jun 13, 2019 1:44 pm

<Research Report>Macquarie: Cautious on Casinos in Near Term Unless CN-US Trade Pressure Eases

Macquarie's channel check showed that Macau's gaming average daily revenue (ADR) is estimated to be MOP738 million in June MTD, down 12% MoM or 1-2% YoY.

The city's MTD June ADR could have changed by -4% MoM or +4% YoY on a hold adjusted basis.

The broker stayed cautious on Macau's casino stocks in the near term, expecting their fundamentals to be squeezed unless China-US trade conflicts ease.

Overall, GALAXY ENT (00027.HK) was kept Outperform at a $68 target; while SANDS CHINA LTD (01928.HK) was rated Neutral at a $43 target.

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Wed Jun 26, 2019 7:52 am

Macau casino revenue forecast trimmed

Bernstein lowered its forecast for Macau casino revenue in June from 4 percent year-on-year growth to 3 percent year-on-year growth, as it said data showed the casino revenue from June 1 to 23 is merely on par with the 23-day revenue in 2018 June, while 11 percent lower as compared with May.

Source: The Standard
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Re: Macau 05 (Jan 17 - Dec 19)

Postby behappyalways » Wed Jun 26, 2019 2:56 pm

china-s-casinos-use-ai-to-spot-who-s-most-likely-to-lose-big
https://www.bloomberg.com/news/articles ... emium-asia
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Tue Jul 02, 2019 7:21 am

Macau shows a strong hand

Macau casino revenue has grown for a second straight month - a sign the world's largest gaming hub is holding its ground even as the prolonged Sino-US trade war bites into China's economic growth.

Gross gaming revenue in June was 23.8 billion patacas (HK$23.1 billion), up 5.9 percent on the same month last year .

That topped most analysts' estimates, which were for an increase of 1.8 percent, and followed modest growth in May.

An acceleration of growth shows Macau casinos are weathering the headwinds of the tit-for-tat trade war and a slowing Chinese economy, which have chased away some of the well-heeled gamblers and ended over two years of uninterrupted revenue growth.

June's results may help ease investors' concerns about another trend - the emergence of rival regional gaming spots that can lure the VIP segment away.

Expectations remain subdued for the rest of the year as a whole, with analysts predicting a 1-percent median revenue decline.

Source: Bloomberg

http://www.thestandard.com.hk/section-n ... 0702&sid=2
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