Hato impact on Macau operators minimal

Typhoon Hato had only marginal impact on Macau’s six casino operators, with VIP business showing strength in September, said Morgan Stanley in a note on Monday.

“The impact of Typhoon Hato was marginal on six casino operators, and traffic and revenue were back in a couple of days, especially in Cotai,” noted analysts Praveen Choudhary and Alex Poon.

Golden Week holiday bookings have also appeared strong so far.

“The current quarter is tracking at +6 percent GGR growth quarter-on-quarter, as September has been strong and forward looking for longer than the usual Golden Week in October is strong as well.”

Looking further ahead, Morgan Stanley says that it expects mass revenue growth to remain above 10 percent for the rest of the year, while VIP growth is expected to stay above 20 percent year-on-year for the next few months of the year.

“We see 17Q4 GGR slowing to 16 percent year-on-year from 17Q3's 21 percent year-on-year mainly due to a base effect.”

Morgan Stanley says it believes Wynn Macau to outperform MGM China and Galaxy, based on 17Q3 EBITDA quarter-on-quarter performance.

More news from this jurisdiction

MacauMonday, Oct 23, 2017

Visitors to Macau increased 2.4 percent year-on-year in September, reaching a total of 2.5 million arrivals, according to data from the Statistics and Census Service (DSEC).

MacauMonday, Oct 23, 2017

Casino operator Sands China says it has earned multiple awards in Greater China this year for its innovative human resources initiatives.

MacauMonday, Oct 23, 2017

VIP has continued to show strength in October, with the month’s GGR estimated to record a year-on-year increase of 13-15 percent, wrote Bernstein in a note on Monday.

MacauSunday, Oct 22, 2017

Luxury hotel operator The 13 Holdings has announced it is planning to raise around HK$1.7 billion (US$217.8 million) through a rights issue and a placing of loan notes.

MacauFriday, Oct 20, 2017

Luxury hotel and casino company The 13 Holdings has requested a trading halt on the Hong Kong Stock Exchange, effective Friday, October 20, 2017.

MacauThursday, Oct 19, 2017

Jurisdictions that offer wide and frequent access to gambling may see more cases of problem gambling than gaming meccas such as Macau and Las Vegas.

MacauThursday, Oct 19, 2017

SJM Holdings CEO Ambrose So has opened a solo calligraphy exhibition in the Portuguese capital, Lisbon, aiming to promote understanding of Macau’s role in bridging the cultures of the east and west.