Driven by good VIP and mass results, the two companies are expected to outperform other operators in Macau.
Macau.- Morgan Stanley released a note on Thursday where it was detailed that Wynn and Galaxy are likely to outperform Melco, MGM and SJM during the second quarter of the year, since they both reported good mass and VIP results.
Whilst the first choice was Melco, these two operators showed stronger EBITDA (earnings before interest, taxation, depreciation and amortisation) results, making them the top operators in Macau during that period, according to the brokerage. “We expect Wynn Macau and Galaxy to show positive sequential EBITDA growth of roughly 1-2 percent each,” said Morgan Stanley, as AGBrief reported. SJM, MGM, Sands China and Melco are likely to decrease EBITDA numbers when compared to the previous quarter, as they’re all set to experience market share loss, as well as less VIP business.
Last week, Japanese Nomura said that it is estimated that gross gaming revenue (GGR) could increase to 15 percent for 2017 as the territory experienced encouraging results during the second quarter of the year that finished on June 30.