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Macau Casinos Post Strong Growth in May as the Post-pandemic Turnaround Picks up
For the first five months of 2023 combined, Macau’s GGR is up 173% year-on-year to 64.93B patacas ($8.05B).
Express News | Macau's gross revenue for May was 15.565 billion patacas, up 365.9% year on year, estimated at 370.0%. Macau's gross revenue for January-May was MOP 64.9 billion, up 172.9% year on year.
Big Bank Ratings | Motong: Reiterates optimism that Haogang stocks are preferred by Bank Entertainment and Sands China
Glonghui, May 24, 丨According to the Motong Development Research Report, the first quarterly performance of Haotong Stock's post-pandemic restart was better than expected. The bank reiterated its optimism about the Macau gaming industry, choosing Bank Entertainment (0027.HK) and Sands China (1929.HK). The remaining stocks selected were MGM China (2282.HK); Wynn Macau (1128.HK) and Xinhao International (0200.HK); Macau (0880.HK). Motong predicts that mid-market gambling revenue in the industry is expected to fully return to pre-epidemic levels in the late quarter of this year, two quarters earlier than expected; VIP room demand will also exceed pre-epidemic levels. On the profit side, due to future operations
Changes in Hong Kong stocks 丨 Macau's epidemic resurfaced, Haobang stocks fell collectively, and Sands China and MGM China fell more than 4%
Glonghui, May 24, 丨 Xinhao International Development, Sands China, and MGM China fell more than 4%, Australian Expo Holdings fell more than 3%, and Galaxy Entertainment and Wynn Macau fell more than 2%. According to the news, the COVID-19 epidemic has recently resurfaced in Macau. In order to raise the local public's awareness, the Macau government announced that the number of cases will be published daily starting May 20. The Coordinating Center said the data showed that Macao was at the peak of the COVID-19 infection cycle, but the virulence of the virus was not high, and the epidemic had no obvious impact on the health care system and social operations.
Major Bank Ratings | Bank of America Securities: Lowering the target price of the Australian Expo to HK$4.1 to a neutral rating
Glonghui, May 16 丨 Bank of America Securities issued a report stating that the adjusted EBITDA of Australian Securities Holdings (0880.HK) reached HK$31 million for the first quarter. Since the cost was lower than expected, the adjusted EBITDA greatly exceeded the bank's forecast. If the cost after the reduction in the satellite casino business was taken into account, the EBITDA is expected to reach HK$200 million. During the period, the company's net revenue increased 58% year over year to HK$4 billion, mid-market revenue increased 67% year over year, and VIP lounge revenue decreased 42% year over year. According to Bank of America, betting volume has continued to pick up since the beginning of the year. Betting in March accounted for 38% of total first-quarter betting revenue, compared to the beginning of May until the beginning of May
Bank Ratings | Daimo: The Australian Expo quarterly EBITDA turned positive but fell short of market expectations and maintained its holdings reduction rating
Glonghui, May 16, 丨 Da Mo published a rating report saying that since 2020, the first quarterly EBITDA for the Australian Open (0880.HK) was corrected, recording 31 million yuan, but only 3% of the level of the first quarter of 2019, lower than market expectations of 148 million yuan, and net loss narrowed 72% month-on-month to 869 million yuan. According to the bank, midfield gambling revenue in May reached 110% of the 2019 level, and after deducting the Shanghai Lisboa (GLP), it has returned to 90% of the 2019 level. The bank gave it a target price of HK$3.5, maintaining a “reduced holdings” rating. The stock is now at HK$3.65
SJM Holdings 1Q Earnings Didn't Impress Compared With Peers -- Market Talk
0324 GMT - SJM Holdings is the only Macau-based casino operator that didn't beat market expectations for 1Q earnings, JPMorgan analysts DS Kim and Mufan Shi say in a note. However, the company reporte
Changes in Hong Kong stocks | Gaming stocks generally rose, Aibo Holdings rose 1%, and the Q1 performance of many gaming companies increased
Glonghui, May 16, 丨 International Entertainment rose 7%, Huicai Holdings and MGM China rose 4%, Macau International Development rose 3%, and Wynn Macau and Macau Holdings rose 1%. A number of blogging companies have successively released their first-quarter results. Macau Holdings announced yesterday that net gaming revenue for the first quarter was HK$3.705 billion, an increase of 57.7% over the previous year; Wynn Macau achieved total operating revenue of 600 million US dollars in the first quarter, an increase of 101 times over the previous year; MGM China's net revenue for the first quarter was US$618 million, an increase of 130% over the previous year; and the total operating revenue for the first quarter was US$716.5 million, an increase of about 51% over the previous year.
Australian Expo Holdings (0880.HK) 2023 Quarterly Report Review: Gross Gaming Revenue Recovered to 37.3% in the same period in 2019 and continued to climb in Lisboa
On May 15, 2023, Aobo Holdings announced results for the first quarter of 2023. 1Q23 The company's net revenue increased 57.6% year over year to HK$400 million, and adjusted EBITDA changed from negative to positive year over year to HK$31 million. 1) 1Q23 achieved net revenue of HK$400 million, up 57.6% year on year, recovering to 46.2% in the same period in 2019; 2) 1Q23's gaming/non-gaming businesses contributed HK$3705/295 million in net revenue respectively, with non-gaming accounting for 7.4% compared to the same period in 2019
SJM Holdings' Loss Narrows in Q1 as Revenue Surges 58%
SJM Holdings (HKG:0880) posted a loss attributable to owners of HK$869 million for the first quarter, narrowing from the year-ago loss of HK$1.28 billion. The company, which is principally engaged in
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