2024.07.12
twin river casino texas holdem(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. Illinois Gov. peppermill casino vegas(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. But with approval times taking a week or longer, it was widely expected that good news wouldn’t have any impact on August GGR figures.Nearing the Bright Side With the freeze on individual visit scheme (IVS) visas lifted in Guangdong, and the rest of the mainland slated to follow suit on Sept. Pritzker then signed another bill that greatly reduced how much gaming revenue the city and state will receive from the resort.Now, Lightfoot is seeking input from casino companies as to what conditions will further increase their likelihood of preparing asanta ana star casino winners bid.“This is the right time to begin having these discussions, as we continue to lay the foundation to make a strong recovery from the impacts of the COVID-19 pandemic,” Lightfoot said.Questions Arise Lightfoot’s RFI includes numerous inquiries. free slots 8 lines caesar casino kinshasablack bear casino world s biggest hamburgerThose 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. 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). lake tahoe 18+ casinoIllinois Gov. (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. While a 94.5% drop in GGR might normally cause a panic reaction, we would expect to witness a relative no reaction to the August Macau GGR results,” said the Stifel analyst in a note to clients today. the online casino no deposit bonus codes digital roulette wheel casinocache creek casino coronavirusWhile a 94.5% drop in GGR might normally cause a panic reaction, we would expect to witness a relative no reaction to the August Macau GGR results,” said the Stifel analyst in a note to clients today. (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. 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). An analyst says that’s the preferred Macau stock to consider. (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. (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. firekeepers casino lansing cache creek casino coronavirus |