Tuesday, November 5, 2024

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Sands China rating upgraded to ‘overweight’ amid multiple catalysts: MS

Morgan Stanley has upgraded Sands China’s rating from ‘equal-weight’ to ‘overweight,’ citing several key factors expected to boost the company’s market share and earnings by 2025.

Macau 2Q24 industry property EBITDA likely down 4% QoQ: Morgan Stanley

Brokerage Morgan Stanley expects that Macau’s gaming industry property EBITDA will decrease by 4 percent, amounting to US$1.97 billion, from the previous quarter.

Genting Singapore to record sharp 2Q24 EBITDA drop due to seasonal factors 

Genting Singapore, the operator of Singapore’s Resorts World Sentosa (RWS), is expected to see a significant decline in quarterly EBITDA for 2Q24, notes Morgan Stanley.

Macau casinos stopping free snacks could reduce traffic, minimal GGR impact: MS 

Morgan Stanley notes that Macau casinos ceasing to offer free snacks could reduce foot traffic. However, this measure is expected to have only a small impact on gross gaming revenue (GGR).

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.

Macau CNY visitation stronger than 2019, surpassing 1M in six days 

Macau has surpassed expectations with its Chinese New Year (CNY) tourist arrivals, reaching over 1 million visitors in just six days.

Macau GGR may reach $2.2 billion in January, says Citigroup

Citigroup anticipates that Macau's gross gaming revenue (GGR) for January 2024 will reach approximately MOP17.5 billion ($2.2 billion), achieving around 70 percent of the level recorded in January 2019, primarily influenced by seasonal factors.

Macau September gaming results likely to fall by 6 percent from the previous month: Morgan Stanley

Macau's total gross gaming revenue in September should be down by 6 percent from the previous month, reaching about MOP16.1 billion ($1.9 billion), analysts from Morgan Stanley predict.

Morgan Stanley identifies investment opportunities in the Philippines gaming industry

In its latest market report, Morgan Stanley (MS) has identified investment opportunities in the Philippines gaming industry. In this comprehensive report, MS states that "the Philippines is among the most overlooked by Emerging Market investors, who have been underweight in the market for the last five years."

Grand Lisboa Palace expected to turn EBITDA positive in 3Q23

SJM Holdings’ flagship integrated resort, Grand Lisboa Palace (GLP), is expected to record a positive EBITDA in 3Q23, according to the investment memo from Morgan Stanley.