Sunday, March 29, 2020

Macau

Success Universe expects to report 2019 profit gain

Success Universe, an investor in Macau’s Ponte 16, said it expects to report a gain of about 30-40 percent in 2019 profit, compared with the HK$54.2 million ($6.98 million)  it reported the prior year. 

Moody’s sees downgrade risk for LVS

Moody’s has placed the ratings of Las Vegas Sands on review for a downgrade given the steep drop in gaming revenue at its Macau and Singapore operations as a result of the coronavirus.

Two casinos remain closed in Macau as grace period ends

At the end of the 30-day grace period for Macau’s casinos to reopen, the government has announced that two properties will remain closed and that about 80 percent of the table capacity is now operational. 

Macau 2020 GGR forecast halved

Macau has halved its forecast for 2020 gross gambling revenue due to the impact of the Covid-19 pandemic and announced new measures to help local business. 

Macau closes borders after new infections

Macau closed its borders to all non-residents as of midnight on March 18, with the exception of blue-card holders and residents from greater China, after another case of imported Covid-19.

New Macau Covid-19 case may dent travel easing hopes: Bernstein

Macau has reported its first new Covid-19 case in a month, which may delay plans to begin easing travel restrictions to the territory, Bernstein Research says.

SJM reports 12.5% profit gain for 2019

SJM Holdings posted a 12.5 percent gain for 2019 and said it was in a solid position to weather the challenges posed by the Covid-19 outbreak.

Bonusing and loyalty strategy key to mass-market retention

With Macau continuing to haemorrhage VIP gamblers, there has never been a greater onus on operators in the special administrative region to latch on to the relative predictability afforded by the premium and mass markets.
China Stocks

Nerves of steel and a long-term view needed for stock investors

Asia’s gaming stocks have been pummelled by the outbreak of the coronavirus, but with signs China may be bringing the disease under control, is it nearing the time to re-enter the market?

Melco required to share privileged documents in NSW probe

The NSW government has won a legal battle that would see Melco Resorts be forced to share nine company documents that they wanted to...

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New Macau Covid-19 case may dent travel easing hopes: Bernstein

Macau has reported its first new Covid-19 case in a month, which may delay plans to begin easing travel restrictions to the territory, Bernstein Research says.

Macau closes borders after new infections

Macau closed its borders to all non-residents as of midnight on March 18, with the exception of blue-card holders and residents from greater China, after another case of imported Covid-19.

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