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Macau’s overall gross gambling revenue is likely to rise about 3 percent to 4 percent in September after disruptions caused by Typhoon Mangkhut, though VIP revenue in the coming week may get a boost from new room openings, Bernstein Research says.
SJM Holdings reported an almost 10 percent increase in net revenue for the first half of this year, though its share of the Macau market slipped in all categories.
Melco Resorts & Entertainment reported an 8 percent gain in adjusted property EBITDA driven by its City of Dreams Manila and Altira properties, though overall revenue fell after a change in accounting practices.
Macau’s gross gambling revenue is tracking for a 20 percent gain in June, helped the opening of Melco Resorts & Entertainment’s Morpheus Hotel and the Dragon Boat festival, Morgan Stanley said in a note.
Gross gambling revenue is tracking to growth between 16 percent and 18 percent in June if the currently daily rate is maintained throughout the month, Bernstein Research says.
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