Morgan Stanley cited an expected decrease in mass revenue and rising costs.<\/p>\n\n\n\n\n\n\n\n
Macau.- Analysts at\u00a0Morgan Stanley<\/strong> expect the six gaming operators in Macau to report lower earnings before interest, taxes, depreciation, and amortisation (EBITDA) figures for the second quarter of 2024 compared to the market consensus due to an expected decrease in mass revenue and rising costs.<\/p>\n\n\n\n Analysts\u00a0Praveen Choudhary<\/strong>,\u00a0Gareth Leung<\/strong>, and\u00a0Stephen Grambling<\/strong>\u00a0noted that the city\u2019s gross gaming revenue (GGR) for the second quarter of the year is likely to be down between 1 to 2 per cent when compared to the previous quarter, while mass GGR could decline by 2 to 3 per cent.<\/p>\n\n\n\n They forecast that June\u2019s GGR will reach MOP18bn (US$2.2bn), marking an 11 per cent month-on-month decrease. Morgan Stanley expects Sands China’s EBITDA to be below consensus estimates due to the company losing mass GGR market share because of construction disruptions. SJM is predicted to achieve the market consensus of an 8 per cent increase in EBITDA linked to the ramp-up of Grand Lisboa Palace.<\/p>\n\n\n\n Macau\u2019s GGR for May<\/a> was\u00a0MOP20.19bn (US$2.51bn). That\u2019s an increase of 8.9 per cent\u00a0month-on-month<\/a>\u00a0and 29.7 per cent when compared to May 2023. Cumulatively, Macau\u2019s GGR for the first three months of 2024 was MOP$57.3bn (US$7.11bn), up 65.5 per cent year-on-year and implying a full-year run rate of around MOP$229.2bn (US$28.4bn)<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Morgan Stanley cited an expected decrease in mass revenue and rising costs.<\/p>\n","protected":false},"author":176,"featured_media":21776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley analysts project a lower Q2 2024 EBITDA for Macau's six gaming operators, citing an anticipated 1-2% sequential decline in overall GGR and a 2-3% drop in mass GGR, coupled with rising operational costs. Sands China is expected to underperform consensus due to market share loss from construction, while SJM is forecast to meet expectations driven by Grand Lisboa Palace's ramp-up.","focusai_entities":"Morgan Stanley, Praveen Choudhary, Gareth Leung, Stephen Grambling, Sands China, SJM, Grand Lisboa Palace","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (1.0), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Q2 GGR Drivers?","query":"What specific factors are driving the anticipated 2-3% decline in Macau's mass GGR for Q2 2024, beyond general market sentiment?"},{"label":"Operator Strategy Impact?","query":"How are Macau's gaming operators adjusting their capital expenditure and operational strategies in response to rising costs and projected GGR stagnation?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-777016748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016748","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=777016748"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016748\/revisions"}],"predecessor-version":[{"id":777016755,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016748\/revisions\/777016755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21776"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777016748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777016748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777016748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}