Post by Blitz on Oct 18, 2024 11:27:33 GMT -5
Macau casinos: Sands China EBITDAR to rise 16.6% in 2025, analysts say
10/18/24
focusgn.com/asia-pacific/macau-casinos-sands-china-ebitdar-to-rise-16-6-in-2025-analysts-say
JP Morgan Securities says Sands China’s EBITDAR could reach US$2.77bn next year.
Macau.- Analysts at JP Morgan Securities have forecast that Sands China’s earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) could rise 16.6 per cent year-on-year to US$2.77bn in 2025. Joe Greff and Sam Nielsen attributed the increase to the Londoner Macao’s renovation.
The US$2bn Londoner project opened in phases starting in February 2021. The ‘British-themed’ complex has five hotels, collectively offering nearly 6,000 rooms and suites. One of the resort’s gaming floors has already been renovated and is now open, while hotel rooms and other revenue-generating elements will open gradually in the fourth quarter of 2024 and throughout 2025. According to analysts, this should enable Sands China to achieve growth in 2025 that exceeds that of its peers in the city.
See also: The Londoner Grand to become first Marriott Luxury Collection hotel in Macau
GGR reaches US$1.37bn in first 13 days of October, JP Morgan says
Analysts at JP Morgan Securities (Asia Pacific) have estimated that Macau’s gross gaming revenue (GGR) for the first 13 days of October was MOP11.0bn (US$1.37bn). The estimated GGR run rate was MOP846m (US$106.78m) a day.
Analysts DS Kim, Mufan Shi and Selina Li said that, despite a slowdown following the October Golden Week holiday period, last week’s daily run-rate was MOP643m (US$80.33m) per day, up 10 per cent when compared to September (MOP575m) and on par with August.
October’s GGR is expected to reach MOP22bn (US$2.74bn), with a daily run rate of more than MOP700m (US$87.91m). That would surpass previous market prediction of MOP20bn (US$2.49bn) to MOP21bn (US$2.61bn).
10/18/24
focusgn.com/asia-pacific/macau-casinos-sands-china-ebitdar-to-rise-16-6-in-2025-analysts-say
JP Morgan Securities says Sands China’s EBITDAR could reach US$2.77bn next year.
Macau.- Analysts at JP Morgan Securities have forecast that Sands China’s earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) could rise 16.6 per cent year-on-year to US$2.77bn in 2025. Joe Greff and Sam Nielsen attributed the increase to the Londoner Macao’s renovation.
The US$2bn Londoner project opened in phases starting in February 2021. The ‘British-themed’ complex has five hotels, collectively offering nearly 6,000 rooms and suites. One of the resort’s gaming floors has already been renovated and is now open, while hotel rooms and other revenue-generating elements will open gradually in the fourth quarter of 2024 and throughout 2025. According to analysts, this should enable Sands China to achieve growth in 2025 that exceeds that of its peers in the city.
See also: The Londoner Grand to become first Marriott Luxury Collection hotel in Macau
GGR reaches US$1.37bn in first 13 days of October, JP Morgan says
Analysts at JP Morgan Securities (Asia Pacific) have estimated that Macau’s gross gaming revenue (GGR) for the first 13 days of October was MOP11.0bn (US$1.37bn). The estimated GGR run rate was MOP846m (US$106.78m) a day.
Analysts DS Kim, Mufan Shi and Selina Li said that, despite a slowdown following the October Golden Week holiday period, last week’s daily run-rate was MOP643m (US$80.33m) per day, up 10 per cent when compared to September (MOP575m) and on par with August.
October’s GGR is expected to reach MOP22bn (US$2.74bn), with a daily run rate of more than MOP700m (US$87.91m). That would surpass previous market prediction of MOP20bn (US$2.49bn) to MOP21bn (US$2.61bn).