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Gaming spending in Macau to be much lower during Labor Day period – Morgan Stanley

Analysis conducted on 28 hotels across Macau suggests that both Average Daily Rates (ADR) and occupancy rates are anticipated to be notably lower during the upcoming Labor Day holidays when compared to the 2024 Chinese New Year (CNY) holiday and the May Golden Week in 2019.

Morgan Stanley lowers Sands China’s 2024 EBITDA estimates due to share loss

Morgan Stanley has revised down Sands China’s 2024 EBITDA forecast to $2.4 billion, an 8 percent decrease, due to lower market share this year.

Morgan Stanley cuts Galaxy’s earnings outlook due to market share loss

The investment bank Morgan Stanley has lowered Galaxy Entertainment’s earnings forecast due to market share loss.

Macau 4Q23 market-wide EBITDA at 83% of 2019 levels: Morgan Stanley 

Macau gaming operators have recorded $1.95 billion of EBITDA for 4Q23, up 8 percent sequentially and 83 percent of 4Q19 levels, says Morgan Stanley.

Macau mass GGR to surpass pre-pandemic levels by 20% in 2024: Morgan Stanley

Morgan Stanley analysts project continued positive consensus revisions for Macau, fueled by increased confidence in the mass GGR this year.

Estimated operators non-gaming investment in 2024 to account for about 20 percent of EBITDA: Morgan Stanley

Analysts from Morgan Stanley estimate the average yearly spend for non-gaming diversification by the Macau SAR concessionaires over their 10-year concession term will be around 20 percent of EBITDA volume estimated for 2024.

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."

Macau 2Q23 mass GGR maybe 90 percent of 2019 levels: Morgan Stanley

Analysts at Morgan Stanley maintain their bullish outlook on 2Q23 mass gaming revenue for Macau’s six gaming concessionaires, noting that gaming performance is set to approach pre-COVID levels in 2Q23, with mass revenue reaching 90 percent of 2019 levels.

Macau 1Q23 mass gaming revenue at 63% of 2019 levels: Morgan Stanley

Analysts at Morgan Stanley are raising their estimates on 1Q23 mass gaming revenue for Macau's six gaming concessionaires by 200 percent quarter-on-quarter to $3.4 billion, reaching 63 percent of 1Q19 levels.