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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”. ....
GGRAsia – Macau gaming demand recovering comfortably: analysts ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
The average nightly occupancy rate for Macau hotels – including properties in casino resorts – could reach “70 percent to 80 percent” during the upcoming Labour Day break in May, indicated a Macao Government Tourism Office (MGTO) senior official on Tuesday, citing the latest hotel room booking data from the industry. The holiday season encompassing Labour Day on May 1 was likely to “emerge as the best” for the Macau tourism “since the pandemic” started, early last year, said MGTO deputy director Cheng Wai Tong, in comments to the local media on the sidelines of a Tuesday event. The latest forecast on average nightly occupancy for the Labour Day break is higher than that previously mentioned by a fellow MGTO official on Friday. That person said hotels might be “40 percent to 50 percent” full during the holiday period. ....
Gross gaming revenues are improving in Macau worldcasinodirectory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from worldcasinodirectory.com Daily Mail and Mail on Sunday newspapers.
VIP gross gaming revenue (GGR) in the Macau market was “bad” in the first quarter, “hovering at circa 20 percent of pre- Covid-19 levels,” said a Wednesday note from JP Morgan Securities (Asia Pacific) Ltd. The mass segment had “fared better” in the three months to March 31, at 39 percent of pre- Covid-19 levels, estimated the institution in a lookahead for first-quarter earnings season for the six Macau casino operators. The Macau government is yet to publish the data on the structure of market GGR for the first quarter. JP Morgan noted that the first quarter had a “silver lining” in that VIP and mass respectively were better than the 15 percent and 38 percent of pre- Covid-19 GGR levels seen in the fourth quarter of 2020. ....