Skip to main content

Market Overview

Sterne Agee: Macau Gross Gaming Revenue 20% Lower In November, Las Vegas Sands Market Leader

Share:

David Bain of Sterne Agee reported on Tuesday that based on his channel checks, November Macau table-only gross gaming revenue (GGR) was Macau patacas (MOP) 17.9 billion ($2.24 billion) through November 23. The analyst adds  that including slot assumptions, the November GGR run-rate implies a negative 20 percent year-over-year monthly result.

Bain states that October visitation to Macau rose 11 percent year-over-year with arrivals from Mainland China increasing 20 percent and now represents 69 percent of total visitations.

The analyst notes that the visitation figures "demonstrate the desirability (especially of Mainland Chinese) to continue to visit Macau."

However, given the declines in gaming revenues, Bain states that the quality of customers visiting Macau continues to be "relatively weak" compared to a year ago, given China's recent anticorruption campaign and a "choppy" Mainland China macroeconomic backdrop.

Based on Bain's checks, Las Vegas Sands Corp. (NYSE: LVS) held a 23.1 percent table-only market share, making the casino operator the market leader in the region.

Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) held a 13.1 percent market share, making the company the fourth-largest operator by market share. MGM Resorts International (NYSE: MGM) ranked one spot lower with an 11.0 percent market share, while Wynn Resorts, Limited (NASDAQ: WYNN) ranked last in the region with a 7.5 percent market share.

Latest Ratings for LVS

DateFirmActionFromTo
Jan 2022CBREMaintainsHold
Jan 2022Deutsche BankMaintainsBuy
Jan 2022UBSUpgradesNeutralBuy

View More Analyst Ratings for LVS

View the Latest Analyst Ratings

 

Related Articles (LVS)

View Comments and Join the Discussion!

Posted-In: David Bain Macau Sterne AgeeAnalyst Color News Global Analyst Ratings

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com