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Gross gambling revenue in Macau dropped 8.3 percent in April as China’s slowing economy continued to weigh on the VIP segment, though the result was in line with analysts’ forecasts.
The earnings of Macau’s six operators may produce some negative surprises amidst higher staff costs, higher reinvestment rates and slowing revenue growth, Morgan Stanley forecasts.
Three firms from South Korea are eyeing projects in the Primorye gambling zone in Russia’s far east, with Summit Ascent, the region’s only existing...
Summit Ascent Holdings, which operates the Tigre de Cristal property in the Primorye gaming zone in Russia, has the potential to almost double its...
Gross gambling revenue in Macau rose 14 percent in 2018, with December topping consensus forecasts with a gain of 16.6 percent.
Macau’s gross gambling revenue is expected to gain between 8 and 10 percent in December over the same month a year ago, according to Bernstein Research.
Many of Macau’s casinos are in a race against time to ensure their newly-equipped VIP smoking lounges have been approved by the authorities.
Shares in Macau’s casino operators may rally in the short term following better-than-expected November gross gambling revenue, an easing in trade tensions between the U.S. and China and increased visitation after the opening of a bridge between Hong Kong, Macau and the mainland, Morgan Stanley forecasts.
Gross gambling revenue for November rose 8.5 percent, beating analysts’ expectations with signs of a rebound in the VIP sector.
Gross gaming revenue for April is expected to gain between 17 percent to 21 percent to a range of MOP23.5 billion ($2.9 billion) to...