Saturday, May 18, 2024

Search Results

Michael Lee becomes Hong Kong Jockey Club’s 26th chair 

The Hong Kong Jockey Club new Board of Stewards elected Michael T H Lee as Chairman of the Club and Dr Eric Li Ka Cheung as Deputy Chairman at HKJC Annual General Meeting.

Galaxy market share declined in Q4 2023 compared to pre-pandemic period – CBRE

CBRE analysts point out in a recent report that Galaxy Entertainment Group (GEG) market share in the Macau SAR gaming and hospitality sector experienced a decline in the fourth quarter of 2023 compared to the same period in 2019.

Galaxy Ent. expected to raise dividend payout ratio: Jefferies

Given Galaxy Entertainment Group's strong financial position, Jefferies expects the operator to increase its dividend payout ratio for the first half of 2024.

Brokers reaffirm Sands China’s solid recovery despite headwinds

Analysts at Deutsche Bank and Jefferies have reaffirmed Sands China's solid results despite the prevailing negative sentiment towards Macau/China.

Macau’s full recovery is just “a matter of time”: Sands China

Macau gaming operator Sands China is "bullish on the Macau outlook", noting the exact timing of the full recovery is unclear but that it's "just a question of time".

Mohegan Inspire taps Hanwha Hotel & Resorts for management of Incheon Inspire IR hotels

Mohegan’s Inspire Entertainment Resort has signed a management agreement with Hanwha Hotel & Resorts for the operation of five-star hotel towers in the group’s new property in Incheon, South Korea.

Hong Kong Covid-19 situation to further delay GBA reopening, analysts

Analysts are expecting Hong Kong’s Covid-19 outbreak to “get worse before it gets better”, which may delay the reopening of the Greater Bay Area to quarantine-free travel, and thus gaming recovery in Macau.

Under the Scope: Emerald Bay financing issues 

Funding issues have plagued PH Resorts’ Emerald Bay project, suffering another setback as its most recent investor, AppleOne, has pulled out. In this week’s Under the Scope, IGamiX Managing Partner Ben Lee points out how politics trumped business acumen, with banks holding all the cards.

Macau GGR seen at 63 percent of pre-COVID levels in 2023: Jefferies

Gross gaming revenue (GGR) in the world’s largest gaming hub is expected to recover 63 percent of 2019 levels by year-end versus the previous estimate at only 45 percent of the recovery rate, according to Jefferies Equity Research. 

South Korea reopens borders, but lack of Chinese tourists to weigh

South Korea reopened its borders to vaccinated travelers from April 1st, providing some relief for its foreigner-only casinos, but recovery is expected to be a long haul given the lack of Chinese visitation.