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SJM Resorts’ satellite casinos recovery hindered by excess costs: CBRE
Satellite casinos in Macau face a longer road to recovery with excessive costs and labor related to five shuttered casinos, according to CBRE Securities in the latest investment memo regarding SJM Resorts.
Macau recovery continues, with Galaxy’s 2Q23 table drop 5.7 percent above 2019 levels: CBRE
The mass-led recovery in Macau is persisting, with the mass market table drop surpassing 2019 levels by 5.7 percent at the integrated resorts of Galaxy Macau in 2Q23. Additionally, the mass table win was approximately 1 percent higher than in 2Q19, according to a report by CBRE Securities.
MGM Mirage sales a “winner, winner, chicken dinner” for all parties: CBRE
MGM Resort's $1.07 billion sale of The Mirage Hotel & Casino was at a record multiple and reflected the bullish outlook for Las Vegas in what was a "winner, winner, chicken dinner" for all parties concerned, CBRE Securities said in a report.
Wynn seen as a special situation opportunity for potential takeover of Macau assets: CBRE
CBRE Securities has resumed coverage on global gaming stocks, saying it favours Wynn Resorts as a unique contrarian play and a potential special situations opportunity should it put its Macau assets up for sale.
Daily Asia Gaming eBrief: Macau 3Q23 GGR 31 percent below 2019 levels
Despite the surge within the mass gaming segment, Macau's overall gross gaming revenue is still failing to track with 2019 figures, trailing by at least 31 percent, according to analysts. This comes despite the surge brought about by Golden Week in October, and increasing visitor numbers.
Wynn Macau mass table drop exceeds pre-COVID levels: analysts
Deutsche Bank analysts note the weakness in Wynn’s stock price after the announcement of the 3Q23 earnings results, despite mass table drop up some 24 percent compared to pre-COVID levels.
The setting Sun
Ben Lee -
Macau’s arrest and detention of Alvin Chau, head of the Suncity Group, is expected to accelerate the demise of the junket industry that helped to create the world’s largest gambling hub.
Your Daily Asia Gaming eBrief: Is this the end of the road for the junket industry?
This afternoon, AGB's "Is this the end of junkets" webinar will unravel what the recent crackdown on junket boss Alvin Chau means for junkets and VIP gaming in both Macau and the wider Asian region.
Likely duopoly or oligopoly for the UAE: Wynn Resorts
In its latest investment note, Deutsche Bank points out that Wynn Resorts' management believes the gaming operator will be the first to market in the UAE for a few years. They note that it's highly unlikely for every Emirate to have an integrated resort, citing reasons ranging from cultural nuances to population density and visitation.
