J.P. Morgan is optimistic over the resumption of eVisa and tours to Macau advocating a surge in revenues, which will in-turn help operators build positive EBITDA in the fourth quarter of fiscal 2022.

Macau gaming sector stocks rallied in the range of 2 to 7 percent on Tuesday. J.P. Morgan attributes the surprise bump to the end of the concession submission process and ferry resumptions. 

In a brief report post FY22 earnings numbers J.P. Morgan has overweighted most of the stocks engaged in gaming industry of Australia revising the target price of the shares of these companies.

GGR targets for gaming tax calculations, as well as the industry tables and slot machines cap for the next license term of 10 years, announced by the Macau Government, is very much in sync with the present industry scenario, J.P. Morgan reports.

Labor limitations forced Resorts World Genting to operate at 60% capacity, and still, Genting Malaysia posted an EBITDA of RM620mn for 2Q22, at 94 percent of 2019's full-year figures. 

Star Entertainment Group FY22 results were in line with consensus at the sales line but slightly ahead on EBITDA and NPAT, while staff expenses were up, J.P. Morgan comments on its first take of the earnings posting. 

With challenges of COVID19 and travel restrictions as the relevant factor impacting, Melco Resorts and Entertainment 2Q22 numbers have not made much impact on the leading brokerage’s take for the company.

With most of the competitors of Aristocrat Leisure Ltd, based on opportunities in revenue stable gaming operations segment and possible growth dynamics amidst challenges in digital space, leading brokerage establishment J.P.Morgan has rated ALL share as “Overweight” and cites target price of A$46 per share from its current trading of A$34.11 per share.

Freshly opened Crown Sydney is expected to entice a significant slice of incumbent The Star's Premium Mass players to move down the harbor, representing a potential worst-case loss of A$270 million, J.P. Morgan writes.

Korea’s Board of Audit and Inspection (BAI) announcement to further restrict yearly visits to casinos form from 148 days to 100 days to have limited impact on the business: J.P. Morgan.