Noticias de ultima
  • 12.00 New version of the iGaming proposal in many places of the USA
  • 12.00 Infinity Gaming to exhibit its latest products at EXPOJOC 2023
  • 12.00 New exciting partnership between CreedRoomz and Soft2Bet
  • 12.00 After years of delays, ground breaks on the future Hard Rock Hotel and Casino in Ottawa
  • 12.00 Tougher enforcement of gambling rules for NFL players
  • 12.00 The MGA publishes its 2022 Annual Report and Financial Statements
  • 12.00 BetConstruct introduces Harmony by Mr. First Promotion with two incredible offers
  • 12.00 BetConstruct acquires Swedish B2B supplier licence
  • 12.00 Gaming Laboratories International (GLI®) promotes Pierre Otto to General Manager, South Africa
  • 12.00 Join GLI at PGS for leading insights into the future

Macau GGR run-rate climbs back to US$46 million per day

Tuesday 21 de March 2023 / 12:00

2 minutos de lectura

(Macau).- Macau’s recovery from the COVID-19 pandemic continues to gain momentum, with gross gaming revenues for the first 19 days of March estimated at MOP$6.8 billion (US$842 million), according to channel checks by JP Morgan.

Macau GGR run-rate climbs back to US$46 million per day

In a Monday note, the investment bank said daily run-rate for the month was currently sitting at MOP$357 million (US$44 million), but that the monthly total implies an increase from MOP$350 million (US$43 million) for the first 12 days of March to MOP$370 million (US$46 million) over the past week.

“This is all within expectations, but still quite encouraging against what’s implied by the recent pull-back in shares,” wrote JP Morgan’s DS Kim and Mufan Shi.

Based on their numbers, month-to-date GGR is running at about 45% of pre-COVID levels with the analysts estimating mass GGR is between 60% and 70%.

They also remain confident in the growth potential of Macau gaming stocks, despite a recent dip. “Notwithstanding recent pullbacks, we remain confident of sizable absolute and relative upside in Macau stocks,” they said.

Our bull thesis may not be very novel but can still be powerful: the pace of demand recovery continues to ramp, street estimates move higher, skeptical investor sentiment gradually improves and valuation finally mean-reverts to mid-cycle levels (if not re-rates to up-cycles), which in turn produces potential upside of over 50% to our OW ratings on average.

“Put another way, we envision a ‘goldilocks’ rally where the stocks can grind higher quarter after quarter against the wall of worries, as more investors return to invest in this space, following four to five years of lull amidst concerns on license risk, VIP clamp-down, Hong Kong SAR unrest and COVID-19, among others.”

by Ben Blaschke


Tags: Sin tags

País: Macao

Región: Asia


CGS Bahamas 2023

02 de May 2023

Successful edition of CGS Bahamas and promising prospects for CGS Chile

(Bahamas, SoloAzar Exclusive).- For Elizabeth Leiva, CEO of CGS GROUP, the balance of the recent edition of CGS Bahamas and the Regulators Forum was very positive. “The gaming industry in the Bahamas is constantly growing, regulated and changing,” says Leiva, as she prepares for CGS LATAM, which will take place in a few weeks in Santiago de Chile.

Friday 19 May 2023 / 12:00

Successful presentation of Land Vegas at CGS Bahamas

(Nassau, SoloAzar Exclusive).- David Fica Jaque, Founder and CEO of Land Vegas, presented in CGS Bahamas a preview of what will be Land Vegas, a Metaverse focused on entertainment and games, with sports betting and casino games. Exclusively with SoloAzar, he talked about his experience at the trade show and his plans for this year.

Monday 15 May 2023 / 12:00

Avigilon presented video surveillance at the CGS Bahamas Event

(Bahamas, SoloAzar Exclusive).- SoloAzar interviewed exclusively the regional sales director for Central America and the Caribbean of Avigilon, Norberto Torres, during the Caribbean Gaming Show (CGS) held on May 3rd and 4th in the Bahamas. In this article he tells us about the work they are doing, and the importance of being present in this event, as well as the firm´s plans for the future.

Tuesday 16 May 2023 / 12:00


Para suscribirse a nuestro newsletter, complete sus datos

Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.