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Stanley Choi resigns as chairman of International Entertainment
Felix Ng -
Hong Kong-listed International Entertainment has announced the resignation of Dr Stanley Choi as executive director and chairman of the board, with effect from March 31, 2022.
Macau’s May GGR expected to hit $2.5B, Labor Day hotel prices 30% below CNY: brokerages
Investment bank Citigroup anticipates that Macau’s gross gaming revenue (GGR) in May could reach MOP20 billion ($2.49 billion), about 77 percent of 2019 levels.
Daily Asia Gaming eBrief: Multi-entry visa policy for Macau-Hengqin challenges hotels
Group tour operators are bound to be rejoicing over the recent news that Macau and Hengqin are set to establish a multi-entry visa policy between the territories. According to insiders, the scheme could cause a loss to Macau hotel operations, with cheaper options right across the border.
Gaming spending in Macau to be much lower during Labor Day period – Morgan Stanley
Analysis conducted on 28 hotels across Macau suggests that both Average Daily Rates (ADR) and occupancy rates are anticipated to be notably lower during the upcoming Labor Day holidays when compared to the 2024 Chinese New Year (CNY) holiday and the May Golden Week in 2019.
Morgan Stanley lowers Sands China’s 2024 EBITDA estimates due to share loss
Morgan Stanley has revised down Sands China’s 2024 EBITDA forecast to $2.4 billion, an 8 percent decrease, due to lower market share this year.
Macau 4Q23 market-wide EBITDA at 83% of 2019 levels: Morgan StanleyÂ
Macau gaming operators have recorded $1.95 billion of EBITDA for 4Q23, up 8 percent sequentially and 83 percent of 4Q19 levels, says Morgan Stanley.
Macau mass GGR to surpass pre-pandemic levels by 20% in 2024: Morgan Stanley
Morgan Stanley analysts project continued positive consensus revisions for Macau, fueled by increased confidence in the mass GGR this year.
Macau hotel prices increase 1 month before CNY break, says CLSA
Four weeks ahead of the Chinese New Year (CNY) weekend (10-11 February), CLSA's four-week leading average hotel prices have already surged by 27 percent year-on-year. Simultaneously, ten out of the 33 tracked Macau hotels operated by the broker are fully booked for that weekend.
Not horsing around: Macau Jockey Club admits to “always operating at a loss” amongst closure
After the announcement by the Macau government that the Macau Jockey Club was going to close doors, and that horse racing was effectively terminated in the SAR, the company has come forward to explain the decision, noting that they were "always operating at a loss", totaling some MOP2.5 billion ($310 million).
SJM Holdings appoints Ip Shih Ming as new CFO
Macau casino operator SJM Holdings Ltd has appointed Ip Shih Ming as new chief financial officer (CFO), with effect from 6 December 2023.
