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Bernstein Research has revised down its forecast for Macau's gross gambling revenue in November, given the figures in the month to date remain soft.
The pushback in timing for the Hong Kong/Singapore travel bubble dented market sentiment, pushing stocks in Macau gaming companies down by 3.2-6.5 percent, but is unlikely to have a significant impact on Macau's prospects, Morningstar research wrote in a note.
Private-equity company Blackstone, which bought a 10 percent stake in Crown Resorts earlier this year, may prove to be a suitable buyer for the company that may need to change its ownership to retain its casino license, Reuters' Breakingviews argues.
The Star Gold Coast is celebrating its 35th anniversary since opening, with Gaming Operations Manager Steve Hennessey reflecting on the changes in the industry and highlighting how advances in technology have facilitated casino management.
Crown Resorts said its Crown Melbourne property will reopen from Wednesday Nov. 25th with a maximum capacity of 1,000 and every second gaming machine turned off.
Melco Resorts & Entertainment has indicated that its popular House of Dancing Water attraction will remain closed for the next several months and will not resume operations in January as planned. The problem relates to the departure of critical staff and performers who are foreign nationals.
The Hong Kong-Singapore travel bubble was popped before it was even launched by a spike of new Covid-19 cases on the Hong Kong side. The delay for implementation will be two or more weeks.
Singapore's Prime Minister Lee Hsien Loong said he believes it will take several years to return to normal after Covid-19 and travel is likely to take another two years to fully recover.
India's Finance Minister Anurag Thakur said the country should legalize sports betting to weed out corrupt practices such as match fixing. Speaking at and ICICI Securities event. “My suggestion will be to legalise betting and gambling activities, which are underground. They continue to exist in our society,” he said.
Sands China and Galaxy Entertainment should be viewed as long-term investment opportunities once Macau visitor volumes return due to their high installed capacity and expansion plans, Bernstein Research said in a note.