Macau 05 (Jan 17 - May 21)

Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Wed Jul 03, 2019 7:28 am

Macau gambling stocks rise

Macau casino operators rallied the most since December on signs that the world’s largest gambling hub is weathering a slowing Chinese economy and a pullback by high rollers may be easing.

A Bloomberg Intelligence index of Macau casino shares climbed by 7 percent in early Hong Kong trading today, after data showed gross gaming revenue grew for a second straight month.

JPMorgan Chase & Co. analysts said the data was “surprisingly strong,” while Deutsche Bank upgraded its ratings on Galaxy Entertainment Group and MGM China Holdings.

“VIP demand finally seems to be stabilizing,” wrote JPMorgan’s DS Kim in a note yesterday. The analyst said the mass gambling segment continues to show strong growth, and Macau is showing no sign of “growth fatigue” yet, even with the recent protests in Hong Kong.

Galaxy climbed by 8.3 percent, the most since December 3. MGM China shares added 7.5 percent, while Sands China advanced by 7.9 percent and SJM Holdings increased by 6.6 percent.

Macau casino stocks are recovering after a 20 percent correction in May. The companies have faced challenges from the tit-for-tat trade war and slowing Chinese economy, which chased away some of the well-heeled gamblers and ended more than two years of uninterrupted revenue growth.

The VIP segment has also been lured away by the emergence of rival gaming spots in the Asia Pacific region. The results for June were the strongest sign yet that the outlook is improving.

Gambling revenue grew by 5.9 percent, better than the median analyst estimate of a 1.8 percent increase.

The effect of VIPs heading for other gambling regions could be temporary, Andrew Lee, an equity analyst at Jefferies, wrote in a June 24 note, with Macau retaining favor given its convenience and easy access for the mainland gamblers.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0702&sid=2
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Wed Jul 03, 2019 10:04 am

Gaming – Macau
Developing In The Right Direction


Macau reported stronger-than-expected GGR growth (+5.9% yoy) in June despite trade tensions.

The sector is seeing positive sentiment after the US signed a truce with China at the G20 summit; thus, we expect VIP prospects to brighten in 2H19, in line with our earlier thesis.

Consensus expectations of -1% GGR for 2019 may be overblown while we maintain our 2019 GGR growth forecast of 2.4%.

Maintain MARKET WEIGHT.

Source: UOBKH

https://research.uobkayhian.com/content ... 25a32915b6
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Mon Jul 08, 2019 1:19 pm

<Research Report>C Suisse Raises TPs on Casinos, Upgrades SANDS CHINA LTD, GALAXY ENT, MGM CHINA to Outperform

Credit Suisse opined it is time to accumulate casino stocks for continual surprises in high-margin mass GGR, which surged by 13% YoY in 2Q19, beating consensus of a 8-10% rise.

The 2019-21E earnings for the casino sector were raised by 2%/ 10%/ 10%, being 3%-5% below market forecast.

SANDS CHINA LTD (01928.HK)/ GALAXY ENT (00027.HK)/ MGM CHINA (02282.HK) were upgraded from Neutral to Outperform, with targets of $50/ $72.8/ $18.5 (up from $48.8/ $67.5/ $18.2).

WYNN MACAU (01128.HK) and MELCO INT'L DEV (00200.HK) were kept at Outperform, with respective targets of $26.8 and $31.8 (up from $24.5 and $22.5).

SJM HOLDINGS (00880.HK) was upgraded from Underperform to Neutral, with target raised from $8 to $10.

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

Postby winston » Wed Jul 10, 2019 1:39 pm

<Research Report>BofAML Lifts Casinos' Profit Forecasts, TPs

Bank of America Merrill Lynch found Macau's June GGR better than expected (+5.9% YoY).

The 3.7% YoY growth in May-June conformed with previous forecast of a stabilizing GGR in 2Q with improvement in 2H19.

Melco Resorts and GALAXY ENT (00027.HK) are projected to deliver EBITDA growth, with the former benefiting from mass and VIP growth in new casinos.

Macau's 2019 GGR estimate was raised from -2% to -1% only. The broker also revised the 2019-20 sector estimates up by 3.3% and 2.4%, with latest casino target prices listed on a separate table.

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

Postby behappyalways » Mon Jul 15, 2019 3:12 pm

Investment analyst sees Macau casino stocks as a good bet
https://www.youtube.com/watch?v=hmf8AFiCFp4
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Wed Jul 17, 2019 6:36 am

Macau clamps down on junket operators

The Macau gaming authority is drafting and revising the initiatives to regulate junket promoters, and will put forward stricter requirements on deposits and capital, said Gaming Inspection and Coordination Bureau director, Paulo Martins Chan.

The news came as most gaming operators' licenses are due for renewal in 2020.

Chan's bureau said it has asked gaming companies to strictly supervise the junket promoters in their casinos to prevent offenders from using Macau casinos for promoting telebet or online betting.

Chan said it would constitute a criminal offense in Macau to conduct any activities related to online gambling.

The bureau said the meeting was held in response to a mainland media report on the operation of online gambling platforms.

Suncity (1383) Macau's biggest junket promoter which operates VIP gambling rooms around Asia, has raked in billions of dollars in online gaming and proxy betting, causing great harm to China's social economic order, said a report by the state-backed Economic Information Daily.

It was the first time a Macau junket has been singled out for online gaming activity.

Gambling is illegal in the mainland, but legal in Macau, so Chinese nationals are able to bet in casinos in the special administrative region.

However, Suncity enables Chinese players to bet through online casinos in the Philippines and Cambodia, and utilize underground banks to move capital out of the country, the report said.

"The annual amount bet through online gambling in the mainland is more than one trillion yuan (HK$1.136 trillion), equivalent to nearly twice the annual income of China's lottery," the report said.

Suncity responded by saying it did not operate any online gaming business, and all its operations are permitted under local government regulations.

Meanwhile, gross revenue from VIP Baccarat fell 16 percent year-on-year, or 6.97 percent quarter-on-quarter, to 34.61 billion patacas (HK$33.6 billion) in the second quarter, according to the gaming bureau.

The VIP Baccarat revenue accounted for 47.1 percent of all gross gaming revenue in the second quarter, compared to 55.4 percent in the same period last year.

Mass-market baccarat grew 22.8 percent year-on-year in the second quarter to nearly 29.61 billion patacas.

Casino stocks advanced yesterday, with MGM China (2282) rising 4.28 percent to HK$14.12, and Melco International (0200) gaining 4.48 percent to HK$21.

Suncity fell 1.33 percent to HK$1.48.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0717&sid=2
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Re: Macau 05 (Jan 17 - Dec 19)

Postby winston » Fri Aug 02, 2019 8:06 am

Macau July gambling revenue falls by 3.5pc

Gambling revenue in Macau dropped by 3.5 percent in July from a year earlier to was 24.5 billion patacas (US$3.04 billion), the Gaming Inspection and Coordination Bureau said today.

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

Postby winston » Tue Aug 20, 2019 8:41 am

not vested

JPM: Casinos Volatile in Short Run; Stays Constructive on Low Valuation

JPMorgan noted the dismal investment sentiment on casinos, whose prices dived 20-25% over the past three weeks, seeing China-US trade war, RMB depreciation and Hong Kong political unrest as reasons for the segment's weakness.

Although trading in casinos could be volatile in near term, their valuations are too cheap to ignore with most negatives being well flagged and cyclical.

As sector top-pick, GALAXY ENT (00027.HK) was rated Overweight at a target of $65.

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

Postby winston » Sun Sep 01, 2019 6:58 am

It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Macau 05 (Jan 17 - Dec 19)

Postby behappyalways » Sun Sep 01, 2019 3:32 pm

Macau casino revenue drops 8.6% in August
https://www.reuters.com/article/us-maca ... SKCN1VM0ZA
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