Friday, June 21, 2024

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Macau 2024 GGR forecast hits $30B amid higher visitation assumptions: CLSA

Due to higher visitation and GGR/visitor assumptions, brokerage firm CLSA has revised its forecast for Macau's 2024 gross gaming revenue upward, projecting it to reach $29.8 billion this year.

Punters to maintain or increase gambling budgets in Macau: CLSA

A recent China Reality Research (CRR) survey conducted by investment bank CLSA has shown that travelers still exhibit a high willingness to spend in Macau - including on gambling, despite visitation not yet fully normalizing.

CLSA raises SJM’s 2024 EBITDA forecast by 9.3% following strong 1Q24

CLSA has raised Macau gaming operator SJM’s EBITDA forecast by 9.3 percent for the calendar year of 2024 following the company's strong first-quarter results.

Macau May GGR could grow 6% m-o-m to $2.45B: CLSA

Brokerage CLSA predicts that Macau's gross gaming revenue (GGR) in May could grow by 6 percent month-on-month, amounting to $2.45 billion.

CLSA projects Macau GGR to grow 34% this year, reaching $30.3B

Macau’s 2024 gross gaming revenue (GGR) is likely to be up 34 percent from 2023, according to the brokerage CLSA, which says the forecast is 3.5 percent higher than its prior estimates after a positive Chinese New 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.

CLSA upgrades Genting Singapore to “buy”

Genting Singapore has seen its rating upgraded from “outperform” to “buy” by CLSA, after Las Vegas Sands released its results for the second quarter of this year.

Macau operators’ free offerings seen as “rat race” and misaligned with premium mass strategy: experts

The practice of Macau gaming operators offering complimentary drinks and food has sparked a viral trend on Chinese social media, resulting in significant publicity success. However, according to experts consulted by AGB, these free offerings do not align with a strategy focused on premium mass clientele.

Daily Asia Gaming eBrief: PAGCOR Chairman doesn’t want police powers

No need for "more teeth". That's what PAGCOR's Chairman says about suggestions that the regulator should have police powers in order to go after bad actors in the offshore gaming space. Alejandro Tengco says the increase would only distract from its licensing and regulatory roles.

Daily Asia Gaming eBrief: Solaire North to provide needed boost to Bloomberry

A new opening is always a cause for celebration. And the recent opening of Solaire North has analysts upping their estimates for its operator, with expectations that its focus on the mass domestic market will help improve results that failed to impress in the first quarter.