No Data
Goldman Sachs rating: Macau gaming industry valuation is still not high, maintaining buy ratings on Wynn Macau, Sands China, etc.
The Goldman Sachs research report released on November 5 by Grong Hui pointed out that Macau's gambling revenue in October increased by 7% year-on-year to 20.8 billion Macau dollars, reaching 79% of the 2019 level. The bank predicts that Macau's gambling revenue will slow down to flat year-on-year later or, calculated by traditional seasonal factors, it is expected that daily gambling revenue will range between 0.56 billion and 0.63 billion Macau dollars. Looking ahead to next year, most Macau casino operators, except for Galaxy Ent, have limited capital expenditures on expansion or upgrades, and the industry's valuation remains relatively low. The bank maintains a "buy" rating for Galaxy Ent, Sands China, Wynn Macau, and Melco.
The 'Citywide Consumer Rewards' in Macau has driven local consumption by approximately 0.27 billion Macau dollars in the first four weeks.
Macau Television reported that the Community Service Consultative Committee of the Macau Island area stated that the 'Citywide Consumer Grand Prize' has already redeemed 51 million Macau dollars in the first four weeks, driving local consumption of approximately 0.27 billion yuan. Committee member Liang Junjie revealed that the retail trade accounts for more in coupon consumption, with supermarkets, department stores, and dining establishments being the retail premises where citizens redeem coupons the most. Data shows citizens prefer consumption scenes such as daily tea restaurants, porridge noodle shops, and bakeries. (js/u)~
The Macau Grand Prix will be held in mid-month, and the tourism bureau expects hotel bookings to rise.
The 71st Macau Grand Prix will be held from next Thursday (the 14th) to Sunday (the 17th). Helena De Senna Fernandes, Director of the Tourist Office, said that the hotel occupancy rate in Macau is currently about 60% to 70%. With around two weeks to go before the Grand Prix, it is expected that the booking rate will further increase. Wong Wai, Chairman of the Macau Travel Industry Council, stated that the newly designed tour packages through the Hengqin Group Entry and Exit Policy have received a warm response, and preparations are underway to secure more tickets from the event to attract more tour groups to Macau. In addition, Helena De Senna Fernandes mentioned that the 2024 Macau light show will be held from early next month to February next year, and the related 3D light sculptures are already completed.
Macau Gaming Revenue Jumps 6.6% in October, Beats Estimates
"Dah Sing" Daiwa Kam Han: Maintain the first choice to increase shareholding in Macau gaming industry to Sands China (01928.HK)
Dah Sing Financial Group released a research report stating that Macau's gambling revenue in October this year was 20.8 billion Macau dollars (same below), up 7% year-on-year, a 20% increase from the previous month, slightly exceeding market expectations, and recovering to 79% of 2019 levels. Due to the record-breaking performance during the Golden Week, this data also reached a new high post-pandemic. In addition, last quarter's visitor volume to Macau has also rebounded to 93% of 2019 levels, although the proportion of overnight visitors has declined quarterly. The bank maintains a "shareholding" in the Macau gaming industry, with Sands China (01928.HK) as the top choice, maintaining a target price of 28.6 yuan, believing that the group's gambling revenue recovery will accelerate from the first quarter of next year.
In the first ten months, the passenger volume of Macau International Airport increased by 56.9% annually to 6.34 million people.
Macau International Airport data shows that in the first ten months of this year, the number of passengers reached 6.34 million, an increase of 56.92% year-on-year; there were 0.049 million takeoffs and landings, an increase of 49.37% year-on-year. Compared with the same period in 2019, the number of passengers and takeoffs and landings have recovered by approximately 80% and 78% respectively. In the first three quarters of the year, passengers entering Macau with international passports accounted for 15% of the total inbound passengers at the airport, doubling year-on-year, indicating that Macau International Airport is gradually recovering and moving towards new heights of development.
No Data
No Data