Macau

Whilst first quarter GGR in 2021 still showed negative year-on-year growth, the truth is that the Macau gross gaming revenue recovery is well and truly underway. 

The Macau gross gambling revenue rose 16 percent in the second week of April from the prior week, but was still softer than expected, according to Bernstein Research.

Consensus estimates for Q1 earnings at Macau’s six operators may be too high, with corporate EBITDA likely to be lower than the prior quarter due to an uneven recovery and higher expenses, Morgan Stanley says.

Melco Resorts & Entertainment said its Studio City Phase 2 has been named winner of the ‘Regional Award, Asia’ at the BREEAM Awards, which recognize significant achievements in sustainable development. 

The University of Macau expects Macau’s GDP to grow by between 21.4 and 33.5 percent in 2021, should annual tourist numbers surge back to between 13.8 and 21.7 million. 

Melco Resorts & Entertainment’s Chief Sustainability Officer, Denise Chen, speaks with Asia Gaming Brief Managing Editor Sharon Singleton about some of the initiatives the group’s integrated resorts are taking to reduce their impact on the environment. She explains that what’s good for the planet can also pay off on the bottom line.

Moody’s Investors Service has completed a periodic review of Macau’s three U.S. operators, commenting that liquidity is relatively good and their long-term prospects are credit solid despite the hit from Covid.

South Shore Holdings, the owner of the ultra luxury The 13 hotel in Macau, said it has sold off one of its customised Rolls Royce Phantom cars for HK$3.4 million ($449,664) to help with cash flow.

Melco International Development said it has granted restricted shares worth just over $10 million to Chairman and CEO Lawrence Ho as an incentive to strive for the improvement of the business.

The Macau gaming industry is responsible for 62 percent of the territory's carbon emissions, according to a university study indication emissions have been rising sharply.