Casinos in Sihanoukville have been given a green light to reopen by the country’s health ministry as part of a phased reopening of the industry in the country and some are already back in business.
China has confirmed it will begin issuing individual visit scheme visas for the whole of Guangdong province on August 26 and will extend the program to all of China from Sept. 23.
Shares in Macau’s six casino operators were sharply higher Monday after the Macau government announced the long-awaited news that individual visit scheme visas would be renewed from August 12.
Chinese domestic flights and hi-speed train links are back to their pre-virus levels of volume and there is still a strong demand for travel with 100 million trips in the first week of May and 80 million in the three-day Dragon Boat festival in June.
The latest border easings between China and Macau are a positive step but will have limited impact on gross gambling revenue, analysts said.
The creation of a travel bubble between Malaysia and Singapore is seen as a significant catalyst for the island’s two IRs, although severe capacity restrictions will create headwinds, according to Bernstein analysts.
Genting Singapore is expected to post a loss for this year as the recovery is taking longer than expected, according to analysts at Maybank Kim Eng.
According to the China Outbound Tourism Research Institute (COTRI), Chinese demand to travel overseas remains strong and businesses in the industry are expecting a big improvement by 2022 from 2019 levels.
Macau has seen improved visitation since the easing of travel restrictions with Mainland China, though progress is slow and a V-shaped recovery is not expected, Bernstein Research said in a note.
Grand Korea Leisure saw casino sales in June rise 20.5 percent from the prior month, boosted by revenue from table games, although they showed a drop of 68 percent from the prior year.
Macau’s six operators are likely to post the worst quarterly performance ever in Q2, with the focus likely to be on who has done the most to control operating expenditures during the period, Morgan Stanley reports in a note.
Star Entertainment says it moves to the next stage in reopening at its Sydney property from Wednesday, whilst casinos in Queensland get ready to open their doors from Friday.
Social distancing measures will cap capacity at Genting Malaysia and it may take two to three years before visitation levels get back to 2019 levels, Affin Hwang Capital Research said in a note, cited by The Edge.
The Statistics and Census Service (DSEC) has reported that there were only 16,133 visitor arrivals to Macau in May 2020, which represented a year-on-y
The role of branding in the marketing of casino properties has somewhat lessened in significance over the last two decades. One major reason for this decline in significance are the mergers and acquisitions which have gathered steam during this period....
Donaco International said the performance of its Star Vegas casino in Cambodia is showing signs of recovery after being hit by illegal competition fro
Gross gambling revenue over the Chinese New Year period was disappointing, despite higher visitation to Macau, according to Bernstein analysis. Accord
While Macau’s infrastructure remains a limiting factor in driving visitation, mass gaming revenues and non-gaming spend, recent projects may see thi
Macau’s gross gaming revenue for the first 10 days of October hit MOP 9.8 billion, implying an ADR of MOP 975 million, said Bernstein in a note on T
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