2024.07.19
phone number for turtle creek casino in traverse city(Image: Getty Images)On a year-to-date basis, GGR in the world’s largest gaming center is off 82 percent, and on the heels of the rough August number, some analysts are ratcheting down 2020 forecasts.For example, Stifel analyst Steven Wieczynski lowered his estimate on Macau’s 2020 revenue decline to 65 percent to 75 percent from a previous call of a drop of 60 percent to 70 percent. (Image: iStock)The goal of the RFI is for city officials to receive perspective from integrated resort (IR) operators and real estate developers on key issues that will be considered when evaluating proposals for the lone casino license. Either way, operators such as Melco Resorts & Entertainment (NASDAQ:MCLO) and Wynn Resorts (NASDAQ:WYNN) need VIP visits to materially rebound to drive share price appreciation.Stability in Macau could be seen as soon as later this year or in early 2021, according to Wieczynski.One Good IdeaConsensus sentiment is that Macau will bounce back faster than other marquee gaming markets, namely Las Vegas and Singapore, and that’s to the benefit of Las Vegas Sands (NYSE:LVS). bovada casino bonus codes“We fully believe investors understand what the Macau market is up against at this point and remain prepared for an uncertain near-term time frame.”Last month, the city of Zhuhai in Guangdong province started reissuing tourist visas, with the rest of the region doing so on Aug. (Image: Getty Images)On a year-to-date basis, GGR in the world’s largest gaming center is off 82 percent, and on the heels of the rough August number, some analysts are ratcheting down 2020 forecasts.For example, Stifel analyst Steven Wieczynski lowered his estimate on Macau’s 2020 revenue decline to 65 percent to 75 percent from a previous call of a drop of 60 percent to 70 percent. An analyst says that’s the preferred Macau stock to consider. captain jack casino apk top online casino no deposit bonusriverwind casino room ratesThose well-heeled gamblers could be waiting for the arrival of Golden Week in early October or waiting out increasing geopolitical friction between the US and China. Millennium Park’s Cloud Gate, or “The Bean” to locals, is a major tourism draw for Chicago, and the Windy City is betting on a casino resort to bring additional visitors to the shores of Lake Michigan. The operator of five integrated resorts in the special administrative region (SAR) isn’t just the biggest concessionaire there, it’s also one of the most financially sound.Additionally, the bulk of LVS’ Macau clientele is in the mass and premium mass categories, meaning the company isn’t dependent on VIPs to drive revenue.“Although we expect lingering Chinese macroeconomic uncertainty and virus fears to elevate trading volatility in the near term, we santa ana star casino winnerssee nothing out there at this point capable of tempering our long-term enthusiasm on the name,” said Wieczynski.The analyst, who rates LVS a “buy,” adds the operator has an “unrivaled scale,” and recent weakness in the stock is an opportunity for investors to get involved.online casino fish gameVenetian Macau, a Las Vegas Sands venue. The ConsensusMatrix forecast calls for a retrenchment of 73 percent.The waiting game continues. Chicago Mayor Lori Lightfoot (D) has issued a Request for Information (RFI) to solicit ideas and strategies for the city’s forthcoming integrated resort casino. draftkings casino free credits gold coast casino hotelblack bear casino smokingQuestions include optimal location, having a temporary casino during construction, and what amenities would maximize the complex’s revenue potential.The mayor is also asking what minimum acreage is needed for such a venue, how existing assets Those well-heeled gamblers could be waiting for the arrival of Golden Week in early October or waiting out increasing geopolitical friction between the US and China. “We fully believe investors understand what the Macau market is up against at this point and remain prepared for an uncertain near-term time frame.”Last month, the city of Zhuhai in Guangdong province started reissuing tourist visas, with the rest of the region doing so on Aug. 23, there aresanta ana star casino winners reasons to believe the last few months of 2020 will bring better data out of the Chinese gaming center.There does seem to be light at the end of the tunnel, as visitation levels are slowly improving, given the recent IVS ban has been lifted,” said Wieczynski.Over the near-term, a primary issue for Macau operators is that VIP and premium mass players are still in wait-and-see mode. The ConsensusMatrix forecast calls for a retrenchment of 73 percent.The waiting game continues. (Image: Getty Images)On a year-to-date basis, GGR in the world’s largest gaming center is off 82 percent, and on the heels of the rough August number, some analysts are ratcheting down 2020 forecasts.For example, Stifel analyst Steven Wieczynski lowered his estimate on Macau’s 2020 revenue decline to 65 percent to 75 percent from a previous call of a drop of 60 percent to 70 percent. casino queen poker black oak casino sonora california |