JPMorgan Changes Macau 2023 Earnings Estimates [games]
Famous investment bank JP Morgan's change to Macau game operators' expected earnings for the first quarter of 2023 will largely end border restrictions in Macau, Hong Kong and mainland China from Jan. 8, influenced by last week's news.
This would mean the resumption of ferry services between Hong Kong and Macau, which would benefit the economies of both markets.
Pass without restriction:
Inside Asian Gaming reports that all visitors from the mainland, Hong Kong and Taiwan will be able to cross the border without the long-awaited negative coronavirus test. There will also be no obligation to declare health status and no isolation requirements will be required for foreigners.
Passenger carriers Turbojet and Cotai Waterjet continued their flights between Macau and Hong Kong on the 23rd, and will continue to operate 10 round trips a day over the next few weeks.
"The road to normalization is now ahead of what we/markets expected," said DS Kim, an analyst at JPMorgan, calling the change "gradually positive."
He also mentioned earlier expectations that the popular market GGR would recover, saying it would be 35% higher than in the first quarter of 2019, and that the Chinese Spring Festival holiday period was somewhat conservative if Hong Kong players were to return.
Kim expects March GGR levels to increase by more than 35% on positive EBITDA in Q1 and positive free cash flows in Q3, and more than 50% for the June quarter.
"I wouldn't be surprised if we had a full recovery (mass/non-game GGR going back to 2019 levels) on our current model, 2H23, much earlier than the mid-2024 model," he added
The increase is big news for Macau, as it marks the first time since 2004 that it has fallen 51.4% in 2021, the lowest in a single year. The results for 2022 were not so good either. Recorded GGR was only $42.2 billion, or $5.3 billion.
Results already shown:
The latest results, just one day after opening the border, show that the prediction was correct: 5,630 visitors crossed the border between Hong Kong and Macau in just one day. The total number of visitors was 39,606, 153.5% higher than the average daily number.
릴게임
This would mean the resumption of ferry services between Hong Kong and Macau, which would benefit the economies of both markets.
Pass without restriction:
Inside Asian Gaming reports that all visitors from the mainland, Hong Kong and Taiwan will be able to cross the border without the long-awaited negative coronavirus test. There will also be no obligation to declare health status and no isolation requirements will be required for foreigners.
Passenger carriers Turbojet and Cotai Waterjet continued their flights between Macau and Hong Kong on the 23rd, and will continue to operate 10 round trips a day over the next few weeks.
"The road to normalization is now ahead of what we/markets expected," said DS Kim, an analyst at JPMorgan, calling the change "gradually positive."
He also mentioned earlier expectations that the popular market GGR would recover, saying it would be 35% higher than in the first quarter of 2019, and that the Chinese Spring Festival holiday period was somewhat conservative if Hong Kong players were to return.
Kim expects March GGR levels to increase by more than 35% on positive EBITDA in Q1 and positive free cash flows in Q3, and more than 50% for the June quarter.
"I wouldn't be surprised if we had a full recovery (mass/non-game GGR going back to 2019 levels) on our current model, 2H23, much earlier than the mid-2024 model," he added
The increase is big news for Macau, as it marks the first time since 2004 that it has fallen 51.4% in 2021, the lowest in a single year. The results for 2022 were not so good either. Recorded GGR was only $42.2 billion, or $5.3 billion.
Results already shown:
The latest results, just one day after opening the border, show that the prediction was correct: 5,630 visitors crossed the border between Hong Kong and Macau in just one day. The total number of visitors was 39,606, 153.5% higher than the average daily number.
릴게임
MGM China Reports $666M Profit Decline [games]
MGM China, a Macau-based flagship developer and owner and operator of game resorts and lodging companies in the Greater China region, officially announced overnight that the group's overall profit fell by HK$6.85 billion ($490 million) in 2021, compared with a fall of HK$3.85 billion ($4.23 billion) in 2021.
Financial Results Report for FY22:
Official announcement of FY22 financial results also revealed a HK$1.27 billion decrease in 2022 adjusted EBITDA (approximately $162 million), meaning EBITDA profit fell HK$187.2 million (approximately $24 million) in 2021 results.
Regarding total casino revenues, the report nearly halved this year to HK$5.58 billion ($711 million), including a 40.4% drop in big table wins to HK$4.47 billion ($569 million) and a 72.5% drop in VIP table wins to HK$580.8 million ($74,060 million) slots.
In this regard, the company has not recommended payment of the final dividend for the year ending .
Big Expectations of the Year:
The company has recently suffered some of the aforementioned profitability issues, but analysts have cited MGM China as the most profitable company in 2023.
Supporting this statement is the fact that nearly 200 new game tables have been added to the company's allocation since the new concession table was issued 2023.
But that's not all. It's also because the company is expected to have up to 3% more market share than its competitors in the coming months.
Commenting on the company's latest gaming table, investment bank Morgan Stanley recently said, "MGM China will be the first of Macau's six concessions to reach pre-COVID levels of mass GGR."
Information:
Macao-based MGM China is the holding company of MGM Grand Paradise SA.
MGM Grand Paradise SA also owns and manages MGM Macau, an innovative premium integrated resort located on the Macau Peninsula, and Kotai's modern luxury deluxe resort MGM Kotai, which officially opened .
However, MGM China Holdings is mostly owned by MGM Resorts International, one of the leading international hospitality companies that manages a portfolio of destination resort brands related to Bellagio, MGM Grand and Mandalay Bay
바카라
Financial Results Report for FY22:
Official announcement of FY22 financial results also revealed a HK$1.27 billion decrease in 2022 adjusted EBITDA (approximately $162 million), meaning EBITDA profit fell HK$187.2 million (approximately $24 million) in 2021 results.
Regarding total casino revenues, the report nearly halved this year to HK$5.58 billion ($711 million), including a 40.4% drop in big table wins to HK$4.47 billion ($569 million) and a 72.5% drop in VIP table wins to HK$580.8 million ($74,060 million) slots.
In this regard, the company has not recommended payment of the final dividend for the year ending .
Big Expectations of the Year:
The company has recently suffered some of the aforementioned profitability issues, but analysts have cited MGM China as the most profitable company in 2023.
Supporting this statement is the fact that nearly 200 new game tables have been added to the company's allocation since the new concession table was issued 2023.
But that's not all. It's also because the company is expected to have up to 3% more market share than its competitors in the coming months.
Commenting on the company's latest gaming table, investment bank Morgan Stanley recently said, "MGM China will be the first of Macau's six concessions to reach pre-COVID levels of mass GGR."
Information:
Macao-based MGM China is the holding company of MGM Grand Paradise SA.
MGM Grand Paradise SA also owns and manages MGM Macau, an innovative premium integrated resort located on the Macau Peninsula, and Kotai's modern luxury deluxe resort MGM Kotai, which officially opened .
However, MGM China Holdings is mostly owned by MGM Resorts International, one of the leading international hospitality companies that manages a portfolio of destination resort brands related to Bellagio, MGM Grand and Mandalay Bay
바카라
Macao's Stanley Ho Appoints Daughter To Position In Suntak Holdings [games]
Stanley Ho is trying to hand over his reign to the daughter of the legendary Shuntak Holdings, who has continued his work over the past 40 years. Fancy Ho will become the head of the Hong Kong conglomerate as his father steps down as chairman and is no longer a director or executive of the company.
From now on, the 95-year-old tycoon will be the honorary chairman. Honorary chairmen are often given to retired founders or corporate visionaries, who are people who do a lot of work or take their companies to a new level. The organization owns businesses in real estate, shipping, hospitality, and investment. After a stroke he suffered , he gradually began to disperse the company and give his family the opportunity to run it.
Stanley Ho is the richest man in Macau and one of the richest men in Asia. His net worth is $2 billion, making him the 13th richest man in Hong Kong. He has four wives and 16 children, some of whom work in the gambling industry. Ho, the head of one of the most profitable businesses through SJM Holdings, is considered one of the main reasons why Macau is now a gambling hub. He helped developing countries become Asia's largest gambling place at the time, attracting enthusiasts from all over the world. By monopolizing games at the local level, he gained more than 50% of the local economy, which, as he is known informally, made him truly the "King of Macau."
One of his daughters, Fancy Ho, was the managing director of Soon Tak Holdings until recently. Her new chairmanship comes as no surprise to anyone because she has already demonstrated management potential in the company. She has two sisters who work for the company - Daisy Ho is the vice managing director and Meiji Ho is the current managing director of the company. Their father's investments include the territories of Mozambique, East Timor, the Philippines, China, Indonesia, North Korea, Portugal, and Vietnam.
In addition to the new chairman, Pansy Ho is also a director of Shun Tak Shipping Company Ltd., Renita Investment Ltd., Oakmount Holdings Ltd., and several companies.She was awarded the title Justice of the Peace by the Macau government, and received a bachelor's degree in marketing and international business management from Santa Clara University in the United States. For his role as director of Shun Tak Holdings, Pansy Ho will receive an additional HK$60,000 ($7,693 million) fee as well as an annual HK$50,000 ($6,411 million) fee for serving as director of the subsidiary
슬롯사이트
From now on, the 95-year-old tycoon will be the honorary chairman. Honorary chairmen are often given to retired founders or corporate visionaries, who are people who do a lot of work or take their companies to a new level. The organization owns businesses in real estate, shipping, hospitality, and investment. After a stroke he suffered , he gradually began to disperse the company and give his family the opportunity to run it.
Stanley Ho is the richest man in Macau and one of the richest men in Asia. His net worth is $2 billion, making him the 13th richest man in Hong Kong. He has four wives and 16 children, some of whom work in the gambling industry. Ho, the head of one of the most profitable businesses through SJM Holdings, is considered one of the main reasons why Macau is now a gambling hub. He helped developing countries become Asia's largest gambling place at the time, attracting enthusiasts from all over the world. By monopolizing games at the local level, he gained more than 50% of the local economy, which, as he is known informally, made him truly the "King of Macau."
One of his daughters, Fancy Ho, was the managing director of Soon Tak Holdings until recently. Her new chairmanship comes as no surprise to anyone because she has already demonstrated management potential in the company. She has two sisters who work for the company - Daisy Ho is the vice managing director and Meiji Ho is the current managing director of the company. Their father's investments include the territories of Mozambique, East Timor, the Philippines, China, Indonesia, North Korea, Portugal, and Vietnam.
In addition to the new chairman, Pansy Ho is also a director of Shun Tak Shipping Company Ltd., Renita Investment Ltd., Oakmount Holdings Ltd., and several companies.She was awarded the title Justice of the Peace by the Macau government, and received a bachelor's degree in marketing and international business management from Santa Clara University in the United States. For his role as director of Shun Tak Holdings, Pansy Ho will receive an additional HK$60,000 ($7,693 million) fee as well as an annual HK$50,000 ($6,411 million) fee for serving as director of the subsidiary
슬롯사이트
New Orphan Water Casino Trapped in Sandbar of Mandobe River [games]
One of the water casinos that was about to take a seat on the Mandovi River in the Indian state of Goa recently approached the river so close to a sandbar that the casino cruise ship ran aground, attracting both tourists and locals.
This Sunday evening the MV Lucky 7 casino ship had to be towed from the port of Mormugao to a specially designated river anchor location, but on its way there a huge vessel was trapped in a sandbar close to Miramar Beach. The incident comes shortly after the shipowner, Golden Globe Hotel Pvt Ltd., received permission to leave the port. The company received approval from the Bombay High Court last week. MV Lucky 7 launched last weekend and was ready to go into business when an unfortunate accident occurred.
According to reports of hiccups, the Coast Guard has been summoned to take care of four of the 19 crew members of the ship and bring them to the coast. The people were extremely sick in the sea and one of them was injured, so they needed medical help. According to the plan, the ship was to pick up passengers after arriving at a scheduled mooring site. The casino ship's accident only highlights the ongoing discussion and potential problems for the casino operator.
The controversy with MV Lucky 7 is that the company has been advised to postpone the launch of a new water casino. Behind this is the arrival of the monsoon season in India and the accompanying problematic weather conditions. After the ship ran aground, it became clear that the ship's crew had gone too close to the Aguada sandbar area without thinking. This part is routinely closed for navigation during the ongoing monsoon season and events were very likely to occur.
A humanitarian in the community told reporters that sailors took a high risk when choosing a sailing route due to miscalculation of the route, which could have been easily avoided. When asked to comment on the event, the leader of the opposition AAP Orphan Party said the ship was stranded because the government decided not to consider the port captain's advice regarding weather conditions.
In the event of environmental damage caused by a casino ship's stranding, the government must take responsibility and come up with a solution, which currently contains about 12,000 liters of diesel fuel, automatically becoming a biologically dangerous time bomb.
카지노사이트먹튀
This Sunday evening the MV Lucky 7 casino ship had to be towed from the port of Mormugao to a specially designated river anchor location, but on its way there a huge vessel was trapped in a sandbar close to Miramar Beach. The incident comes shortly after the shipowner, Golden Globe Hotel Pvt Ltd., received permission to leave the port. The company received approval from the Bombay High Court last week. MV Lucky 7 launched last weekend and was ready to go into business when an unfortunate accident occurred.
According to reports of hiccups, the Coast Guard has been summoned to take care of four of the 19 crew members of the ship and bring them to the coast. The people were extremely sick in the sea and one of them was injured, so they needed medical help. According to the plan, the ship was to pick up passengers after arriving at a scheduled mooring site. The casino ship's accident only highlights the ongoing discussion and potential problems for the casino operator.
The controversy with MV Lucky 7 is that the company has been advised to postpone the launch of a new water casino. Behind this is the arrival of the monsoon season in India and the accompanying problematic weather conditions. After the ship ran aground, it became clear that the ship's crew had gone too close to the Aguada sandbar area without thinking. This part is routinely closed for navigation during the ongoing monsoon season and events were very likely to occur.
A humanitarian in the community told reporters that sailors took a high risk when choosing a sailing route due to miscalculation of the route, which could have been easily avoided. When asked to comment on the event, the leader of the opposition AAP Orphan Party said the ship was stranded because the government decided not to consider the port captain's advice regarding weather conditions.
In the event of environmental damage caused by a casino ship's stranding, the government must take responsibility and come up with a solution, which currently contains about 12,000 liters of diesel fuel, automatically becoming a biologically dangerous time bomb.
카지노사이트먹튀
