Bank of America/Merrill Lynch has added its voice to other recent commentary pointing to significant upside for Summit Ascent due to optimism over its projects in Russia and the Philippines.
Macau's month-to-date gross gambling revenue is trending down 61 percent from the same period last year and is up 10 percent on December, according to Bernstein Research.
Macau's gross gambling revenue in the fourth quarter of 2020 was MOP22 billion ($2.75 billion), with mass market baccarat and slots making up about 65 percent of the total, according to quarterly figures released by the Gaming Inspection and Coordination Bureau.
Macau's month-to-date gross gambling revenue is up about 13 percent from its December levels, but is down about 65 percent from the same time in 2019, according to Bernstein Research.
Macau's Secretary for Economy and Finance Lei Wai Nong said he's confident the government will meet its forecast to collect about MOP130 billion in gaming taxes this year and said he expects 14 million visitors from Mainland China.
Studio City's gross gambling revenue in October and November was up about 146 percent compared with the third quarter and parent company Studio City Finance says it sees breakeven on an adjusted EBITDA level on reaching between 30 and 35 percent of historical GGR run rates.
Macau ended its annus horribilis on a slightly brighter note, with December gross gambling figures showing the best performance since January.
Macau's gross gambling revenue fell 79.3 percent to MOP60.4 billion in 2020, although December was the best month since January.
Macau's gross gambling revenue is showing slight signs of improvement in the most recent week of December and is up 14 percent from November, according to analysts at Bernstein Research.
Macau's gross gambling revenue is down about 73 percent in the month to date compared with the same period last year and is down 11 percent from the prior month, analysts at Bernstein Research wrote in a note.