Macau 05 (Jan 17 - May 21)

Re: Macau 05 (Jan 17 - Dec 17)

Postby winston » Wed Nov 01, 2017 12:59 pm

<Research Report>C Suisse: Positive about Macau Gaming Industry after Inspection; Bullish on GALAXY ENT

Credit Suisse, in its report, said it obtained positive news about Macau gaming industry after recent inspection as demand post Golden Week remained robust.

The broker estimated that the Oct GGR will increase 20% yearly to MOP26 billion with VIP (+30%) and premium mass as growth engines.

Credit Suisse said as a whole, it maintained a constructive view on Macau gaming stocks.

Given current price 14x 2018E EBITDA, positives were largely priced in.

Among casinos, only GALAXY ENT (00027.HK) was rated Outperform with target price of $61.5.

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

Postby winston » Wed Nov 15, 2017 8:35 am

Macau to tighten grip on junkets

by Tracy Hu

Macau regulators plan to tighten the standards for junket-related business in the city, starting in January when they review applications from operators for new and renewed licenses.

Meanwhile, he said that the government will encourage gaming companies to develop non-gambling business.

The gambling industry will also be boosted after the Hong Kong-Zhuhai- Macau bridge is open to traffic.

The Macau government has deployed ATMs with facial recognition to verify identities and help monitor transactions for those using Chinese bank cards. As a result, ATMs have seen a decrease in the number of withdrawals and in transaction value.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 9655&sid=2
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Re: Macau 05 (Jan 17 - Dec 17)

Postby winston » Wed Dec 20, 2017 11:02 am

<Research Report>Macquarie Lifts Macau 2018 GGR Forecast Growth to 15%; Downgrades SANDS CHINA LTD, SJM HOLDINGS

Macquarie, in its report, raised forecast on Macau GGR for 2018 and 2019 by 1% each to 15%/15%, ahead of 11%/7% as estimated by other brokers.

Macquarie selected GALAXY ENT (00027.HK) and MELCO INT'L DEV (00200.HK) as top picks with ratings Outperform, while downgrading SANDS CHINA LTD (01928.HK) and SJM HOLDINGS (00880.HK) to Neutral.

The broker believed concession renewal will be the highest market concern given concessions of six casinos will be matured in 2020 and 2022.

Uncertainties remain in place as more non-gaming elements are expected to be required by Macau government.

Macquarie also projected GGR to grow at 15% CAGR through 2020 and the upswing was expected to sustain in near term. For December, GGR was forecast to hike 22% yearly, beating estimates.

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

Postby winston » Tue Jan 02, 2018 7:31 am

Macau on roll after lean run

Gaming revenue in Macau rose for the first time in three years in 2017 as high-end punters' appetite for gambling recovers after a sustained mainland campaign against shows of wealth and slowing economic growth.

Figures from Macau's Gaming Inspection and Coordination Bureau yesterday show revenues up 19 percent for 2017 to 265.7 billion patacas (HK$257.9 billion).

The special administrative region is clambering back after revenue plunged to five-year lows in 2014. But revenue is still far off the highs hit ahead of 2014, hovering only around monthly tolls seen in 2011, data from Thomson Reuters Datastream shows.

Monthly gambling revenue in December was up 15 percent to 22.7 billion patacas compared to analysts' expectations of 17-20 percent.

Winnings have been higher for operators such as Sands China (1928), Wynn Macau (1128), Galaxy Entertainment Group (0027) and Melco Resorts & Entertainment. They have casinos on the Cotai Strip, which now boasts some of Macau's most opulent properties.

SJM Holdings (0880) and MGM China Holdings (2282), which do not have a presence on Cotai, have seen their market share erode ahead of openings there. MGM opens its new resort this month, though SJM is not likely to be on the strip until closer to 2019.

Source: REUTERS

http://www.thestandard.com.hk/section-n ... 1231&sid=2
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Re: Macau 05 (Jan 17 - Dec 18)

Postby winston » Mon Jan 08, 2018 6:59 pm

Hong Kong-Zhuhai-Macau Bridge to open in Q2 of 2018

BEIJING (CHINA DAILY/ASIA NEWS NETWORK) - The Hong Kong-Zhuhai-Macau Bridge (HZMB) will open in the second quarter this year (2018), people familiar with the matter told China Daily.

Although a precise date has not been fixed, the bridge will start services officially around May to June, according to the sources.

Recently, chief engineer of the HZMB Authority Su Quanke said that all work on the principal section - a 29.6km bridge-island-tunnel complex-is expected to be completed in early February and the contractors will conduct an official handover ceremony.

Construction of the bridge began in 2009. Once operational, it will shorten the four-hour drive from Hong Kong to Zhuhai to less than an hour and become the first completed infrastructure project built and managed jointly by the governments of Guangdong province, Hong Kong and Macau.

Source: Straits Times

http://www.straitstimes.com/asia/east-a ... q2-of-2018
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Re: Macau 05 (Jan 17 - Dec 18)

Postby winston » Thu Jan 25, 2018 1:16 pm

<Research Report>JPM: 125 Tables for MGM CHINA New Project Negative; No Impact on SJM HOLDINGS

Macau government announced that 125 mass gaming tables will be granted to MGM COTAI under MGM CHINA (02282.HK), missing 150 tables as projected by the market, stated JP Morgan in its report.

JP Morgan said the grant was negative to MGM CHINA as the average operating gaming tables of Macau casinos reached 450.

The research house said there is no impact on SJM HOLDINGS (00880.HK)'s fundamentals given its highest number of tables (approximately 1,715) among casinos.

The research house also listed the number of gaming tables of other casinos: SANDS CHINA LTD (01928.HK) has 1,675 tables; GALAXY ENT (00027.HK) has 1,150 tables; and WYNN MACAU (01128.HK) has 670 tables etc..

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 18)

Postby winston » Fri Jan 26, 2018 8:33 am

HK$20 billion-a-month surge in suspicious ATM withdrawals hits Hong Kong banks after Macau rolls out facial recognition

Source: SCMP

http://www.scmp.com/news/hong-kong/law- ... awals-hits
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Re: Macau 05 (Jan 17 - Dec 18)

Postby behappyalways » Fri Feb 02, 2018 8:54 pm

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Re: Macau 05 (Jan 17 - Dec 18)

Postby winston » Tue Feb 06, 2018 11:04 am

<Research Report>C Suisse Predicts Macau 2018 Mass GGR to Remain Robust; Top Pick GALAXY ENT (00027.HK)

Credit Suisse, in its report, said mass GGR of Macau gaming stocks tracked accelerated growth at present, up by 18% yearly in last quarter.

The research house believed that was attributed to increased footfall and consumption amount.

Mass GGR growth was assumed to be strong and sustain with Hong Kong-Zhuhai-Macao Bridge to be opened in the latter half of the year.

Mass business forecast may be uplifted by Credit Suisse and street consensus.

Credit Suisse reiterated Positive view on the sector with top pick GALAXY ENT (00027.HK), which was rated Outperform with target price of $79.

Credit Suisse envisioned the impetus of casinos in last quarter to remain in 2018, backed by macro positives, including positive VIP business growth; RMB appreciation driving mass consumption; and enhanced promotion of operators.

Source: AAStocks Financial News
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Re: Macau 05 (Jan 17 - Dec 18)

Postby winston » Thu Feb 15, 2018 9:48 pm

Competition in Cotai and outside Macau

Cotai now has around 10 major hotel resort complexes, including the Venetian Macau and Sands Cotai Central, both run by Sands China, Melco Group’s City of Dreams, the Galaxy Macau operated by Galaxy Entertainment Group, as well as new additions Wynn Palace, the Parisian Macau and now MGM Cotai.

Macau also faces competition from Cambodia, Vietnam, and even North Korea, which have all been trying to attract Chinese punters.

Source: SCMP
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