Morgan Stanley expects Macau’s six gaming operators to report a 108 per cent drop in EDITBA from the previous quarter.
Macau.- Analysts at Morgan Stanley expect the six gaming operators in Macau to report a total of US$23m in negative industry corporate earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter of 2021 due to Covid-19 cases in Macau in August and September.
The numbers would represent a 108 per cent drop from the previous quarter but only 1 per cent decrease from the same three months period of last year.
Morgan Stanley expected Macau industry EBITDA estimates “to decline another 40 per cent to 50 per cent as consensus does not yet appear to reflect recent Covid outbreaks in August and late September, which negatively affected October Golden Week.”
Macau’s GGR for the third quarter was MOP$18.76bn, down 26 per cent when compared to the previous quarter. Aggregate casino GGR for the first nine months of the year totals MOP$67.79bn, up 76 per cent year-on-year when compared to the MOP$38.61bn reached during the previous year period.
See also: Macau GGR up 32.4% in September