Consensus estimates for Q1 earnings at Macau’s six operators may be too high, with corporate EBITDA likely to be lower than the prior quarter due to an uneven recovery and higher expenses, Morgan Stanley says.
Hong Kong-listed Success Universe recorded hefty losses for the year 2020, mainly due to the Covid pandemic, including an adjusted EBITDA loss of HK$243 million (US$31.6 million) at Ponte 16, the group’s flagship investment project in Macau.
Australia-listed BetMakers Technology Group has announced the company’s results for the half-year ended December 31, 2020. In this six-month period, the firm’s revenues were A$7.59 million (US$6 million), up 88 percent, and EBITDA was A$0.04 million.
Wynn Resorts was upgraded to “Neutral” from “Sell” at Citi due to optimism over the company’s premium mass business in Macau after it reported better-than-expected Q4 results last week.
Lower operating costs and a better business mix are likely to have helped the bottom line of Macau’s operators in the fourth quarter, despite continued low revenues, Morgan Stanley says.
Ratings agency Standard & Poor’s has reaffirmed Genting Malaysia’s BBB rating, but says the outlook is “negative” due to a slower-than-expected recovery in Singapore.
The six Macau concessionaires are likely to post collective EBITDA losses in the range of US$1 billion for the quarter ending June 30, according...
Macau’s six operators are likely to post the worst quarterly performance ever in Q2, with the focus likely to be on who has done the most to control operating expenditures during the period, Morgan Stanley reports in a note.
Nine listed gaming operators in the Asia Pacific region are likely to see a plunge of about 70 percent in EBITDA this year, but all should have sufficient cash to cover basic needs for the next year, Moody’s Investors Service said.
Nomura said it’s raising its estimates for the Hilton and Marriott hotel groups as occupancy has shown slow but steady growth and been better than its “original more dire outlook.”