Stocks in Macau’s gaming operators rose on Wednesday following the relaxation of testing requirements for visitors from Guangdong, which were seen as a “baby step” to normalization, J.P. Morgan said.
Rising oil prices as a result of Russia’s invasion of Ukraine is unlikely to have a major impact on gaming spending in Australia, according to analysts at JP Morgan.
Genting Bhd, Genting Malaysia and Genting Singapore are insulated from their beleaguered sister company in Hong Kong and investors should focus on the upside in the group from reopenings and the ramp up of Resorts World Las Vegas, J.P. Morgan said in a note.
J.P. Morgan analysts expect the rise of contactless, digital wallets in casinos will give rise to loyalty programs akin to the airline industry, which will see payment reward programs centered around major casino brands.
Opportunistic bidders hoping to capitalize on fears that Crown won’t be granted a NSW license may have to reassess what they’ve put on the table, following an ILGA announcement that Crown would be on track to open its Sydney casino operations by October.
American spend on Australian racing could hit $6.6 billion a year by 2025, with Australian race-wagering per viewer of A$672, which is two times higher than on the NFL, J.P. Morgan said in an analysis of the the value of media rights.
J.P. Morgan said it has raised its FY21 estimate for Star Entertainment Group's EBITDA by 10.7 percent due to stronger revenue from Queensland and better margins. However, it has downgraded the stock from overweight to neutral with a price target of A$3.50.
Half of the slot machines were in operation on the first day of opening to the general public of Star Entertainment’s property in Sydney, though business appeared to be brisk, according to analysts at J.P. Morgan.