{"id":777009311,"date":"2023-09-15T06:30:33","date_gmt":"2023-09-15T09:30:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777009311"},"modified":"2026-04-22T18:03:15","modified_gmt":"2026-04-22T21:03:15","slug":"jp-morgan-downgrades-sands-macau-q3-ebitdar-estimate","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jp-morgan-downgrades-sands-macau-q3-ebitdar-estimate","title":{"rendered":"JP Morgan downgrades Sands Macau Q3 EBITDAR estimate"},"content":{"rendered":"\n

Analysts have reduced their third-quarter property-level EBITDAR estimate for Las Vegas Sands Corp’s Macau operations.<\/p>\n\n\n\n\n\n\n\n

Macau.- JP Morgan Securities <\/strong>has revised downwards its Q3 property-level earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) estimate for Las Vegas Sands Corp’s Macau operations <\/strong>by 4.3 per cent.\u00a0Analysts, Joseph Greff<\/strong>, Ryan Lambert<\/strong>, and Samuel Nielsen<\/strong> said the adjustment was primarily due to weather-related disruptions in September.<\/p>\n\n\n\n

Typhoon Saola caused the temporary closure of gaming venues<\/a>\u00a0in the city for approximately nine hours and there have also been heavy rains. Analysts have reported that\u00a0Macau\u2019s casino gross gaming revenue (GGR)<\/a>\u00a0for the first ten days of September was down at\u00a0MOP4.30bn<\/strong>\u00a0(US$530m). <\/p>\n\n\n\n

JP Morgan Securities now anticipates market-wide GGR to reach MOP14bn for the month \u2013 an 18 per cent month-on-month decrease.\u00a0For the third quarter of 2023, it expects GGR to reach MOP48bn, representing a 5 per cent quarter-on-quarter increase.<\/p>\n\n\n\n

Analysts also adjusted their fourth-quarter 2023 Macau EBITDAR forecast to US$670m, down from US$727m. They anticipate property-level EBITDAR of US$2.9bn for 2024, down from the previous projection of US$3.1bn.<\/p>\n\n\n\n

Sands China posted\u00a0net revenue of US$1.62bn<\/a>\u00a0for the second quarter of the year. Net income for the period amounted to US$187m, compared to a net loss of US$422m in the second quarter of 2022.<\/p>\n\n\n\n

The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA<\/strong>) <\/strong>for the second quarter was US$541m, compared to an EBITDA loss of US$110m for the second quarter of 2022. Capital expenditures totalled US$196m, including US$42m in Macau activities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts have reduced their third-quarter property-level EBITDAR estimate for Las Vegas Sands Corp’s Macau operations.<\/p>\n","protected":false},"author":176,"featured_media":26755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JP Morgan Securities has revised downwards its Q3 and Q4 property-level EBITDAR estimates for Las Vegas Sands Corp's Macau operations, citing weather-related disruptions in September. The adjustment reflects a projected 4.3% reduction in Q3 EBITDAR and a decrease in anticipated market-wide GGR for September, impacting full-year 2024 forecasts. Despite these revisions, Sands China reported significant year-over-year improvements in Q2 net revenue and EBITDA.","focusai_entities":"JP Morgan Securities, Las Vegas Sands Corp, Joseph Greff, Ryan Lambert, Samuel Nielsen, Sands China","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook?","query":"What are the revised GGR projections for Macau for Q4 2023 and Q1 2024, considering the recent weather-related disruptions and their potential lingering effects on consumer sentiment and visitation?"},{"label":"LVS Capital Allocation Impact?","query":"How might these downward revisions in Macau's EBITDAR forecasts influence Las Vegas Sands Corp's capital allocation strategies, particularly regarding ongoing development projects or potential M&A activities in other growth markets?"}],"footnotes":""},"categories":[157,16338],"tags":[21680],"class_list":["post-777009311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777009311"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009311\/revisions"}],"predecessor-version":[{"id":777009324,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009311\/revisions\/777009324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26755"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777009311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777009311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777009311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}