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GGRAsia – May break Macau daily GGR circa US$75mln: analysts


Macau’s casino gross gaming revenue (GGR) during the recent five-day break encompassing the Labour Day holiday on May 1, was approximately MOP600 million (US$75 million) a day, suggested brokerage Sanford C. Bernstein, and JP Morgan Securities (Asia Pacific) Ltd in respective Monday notes.
The period, referred to by some analysts as ‘May Golden Week’, although that term is not used by the Macau authorities, was “surprisingly golden” in GGR terms, said JP Morgan.
The city’s estimated GGR for the early-May break has been “well above” market expectation, the institution’s analysts DS Kim, Derek Choi, and Livy Lyu remarked in their Monday memo. ....

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GGRAsia – Macau daily GGR may reach US$50mln over May break: ops


Macau’s gaming industry might see further sequential improvement in mass gaming volume during the upcoming five-day break surrounding Labour Day on May 1, with average daily casino gross gaming revenue (GGR) possibly reaching “MOP400 million” (US$50 million), said Ambrose So Shu Fai, vice-chairman and chief executive of Macau casino operator SJM Holdings Ltd. His comments were cited by Hong Kong-based Chinese-language media outlet the Hong Kong Economic Journal.
Mr So said he was “confident” of the sector being able to achieve MOP400-million average daily GGR tally during the early May break.
China’s State Council has designated the first five days of May as the Labour Day break for this year. Mainland China currently has what is usually a quarantine-free travel bubble with Macau, and is presently the main source of Macau’s tourists. ....

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GGRAsia – Sands China 1Q EBITDA up as premium mass rebounds


Macau casino operator Sands China Ltd says its adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) more than doubled in the first three months of 2021 from the preceding quarter, mostly due to a rebound in premium-mass revenue.
The Macau unit of United States-based gaming group Las Vegas Sands Corp saw its adjusted property EBITDA hit US$100 million in the first quarter, compared to US$47 million in fourth-quarter 2020. The first-quarter figure was 49.3-percent higher than a year earlier.
Hong Kong-based analyst Andrew Lee of Jefferies LLC, said in a Thursday note that Sands China’s EBITDA had improved sequentially in the first quarter, to the “highest level since the pandemic started, and higher than both our and consensus estimates”.  ....

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