|Bid||49.050 x 0|
|Ask||49.050 x 0|
|Day's Range||47.700 - 49.450|
|52 Week Range||40.300 - 62.100|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||15.68|
|Earnings Date||Oct 23, 2019 - Oct 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||63.49|
Growing protests in the Asian financial centre of Hong Kong are weighing on the neighbouring Chinese territory of Macau as some visitors steer clear of the world's biggest gambling hub, worried over transport disruptions and safety concerns. Hong Kong, a former British colony, has suffered a wave of sometimes violent protests since June as initial opposition to a now-suspended extradition law evolved into a direct challenge to the government and calls for full democracy. "When you have hundreds of flights cancelled out of Hong Kong and some reluctance to travel, I do think that's impacting the premium end of the business," Matt Maddox, chief executive of Wynn Resorts, which runs two Macau casinos, said this week.
Gambling revenue in the Chinese territory of Macau dropped 3.5% in July from a year earlier, due to tempered demand from high rollers amid a slowdown in the world's second-largest economy and a trade war with the United States. Revenue was 24.5 billion patacas ($3.04 billion) in July, Macau's Gaming Inspection and Coordination said on Thursday. The figure was just below analyst expectations of a 3% drop to 3% rise.
(Bloomberg) -- A tropical storm shut Hong Kong’s financial markets for the first time in almost two years, adding extra drama to a city that’s been wracked by protests for weeks.The Hong Kong Observatory raised the storm signal to 8 at 1:40 p.m. local time, the third highest number on its scale. That prompted the city’s stock exchange to suspend trading 15 minutes later, as required by its rules. The Hang Seng Index, which normally closes after 4 p.m., ended the session 1.3% lower. Nearly 600 flights have been cancelled or delayed.Tropical storm Wipha was centered about 320 kilometers (199 miles) south-southwest of Hong Kong at 7 p.m. local time, and forecast to move toward the vicinity of western Guangdong province, according to the observatory. Wipha is now at its closest to the city, meaning storm signal 8 is expected to remain in force for most of the evening, it said.“There’s a lot happening this week that’s keeping investors on the sidelines and adding to their cautious sentiment,” said Linus Yip, a strategist with First Shanghai Securities Ltd. “Local stocks are under pressure amid uncertainties in Hong Kong, and their performance is the main drag on the market. No one dares to bottom fish stocks right now.”As of 8 p.m. local time, 16 people had sought treatment at public hospitals, the government said, adding that it had received 10 reports of fallen trees and one each of landslides and flooding. The city’s airport authority said 25 flights had been cancelled and another 562 delayed. People rushed to get on trains before the suspension of bus and ferry services, while roads were jammed with traffic as workers sought to get home early.Train services continue and trains on the Island line, which cuts through the city’s financial center, are running at four-minute intervals, MTR Corp. said. The Hong Kong-Macau ferry terminal in Sheung Wan was temporarily closed. Most stores in Hong Kong’s central district shut by early afternoon, with many employees seen taping their windows.Preliminary data Wednesday showed the city’s economic expanded just 0.6% in the second quarter from a year earlier, less than half the pace forecast by economists. Hong Kong Chief Executive Carrie Lam had said earlier this week there’s “no room for optimism for the second quarter and the entire year,” according to a government statement citing her remarks at a luncheon.Casinos remained open in Macau, with representatives for Wynn Macau Ltd. and Galaxy Entertainment Group Ltd. saying operations are normal. Last September, resorts were hurt after Typhoon Mangkhut ripped through the world’s biggest gaming hub, forcing a temporary shutdown of casinos for the first time since licenses were given out in 2002.Wednesday’s weather disruption comes at a particularly bad time for Hong Kong. Eight consecutive weekends of unrest in the city have driven away tourists and forced retailers to close some stores in the city’s busiest areas, hitting sales of jewelry and cosmetics. It has also affected landlords’ ability to raise rents.“Lots of stocks, especially heavyweights, are being sold off, including developers and consumer-related stocks,” said Castor Pang, head of research at Core Pacific-Yamaichi International in Hong Kong. “That’s a signal that many long funds are pulling out of the market.”The stock declines reflect growing frustration over Hong Kong’s political impasse. Investors on Monday sold the city’s shares at the fastest rate in more than six weeks, after protesters clashed with police for an eighth weekend. Traders are worried the violence will disrupt the local economy, and a rare press briefing by Beijing did little to ease their concerns.The MSCI Hong Kong Index fell for a sixth day on Wednesday, the longest losing streak in more than a year. It’s fallen 3% this month as protests intensified.(Updates details on injuries and fallen trees in fifth paragraph.)\--With assistance from Magdalene Fung, Alfred Liu, Jeanny Yu, Jinshan Hong, Dominic Lau, Amanda Wang and Denise Wee.To contact the reporters on this story: Fion Li in Hong Kong at email@example.com;Sofia Horta e Costa in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Richard Frost at email@example.com, Will Davies, Karen LeighFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gambling revenue in the Chinese territory of Macau rose 5.9% in June year on year, as sentiment to gamble saw an uptick in the world's largest gambling hub. June's figure was 23.8 billion patacas ($2.95 billion), according to Macau's Gaming Inspection and Coordination.
Macau is considering launching a yuan-based stock market to help it diversify away from gaming, its main source of revenue, and align the territory more with China's growth plans for the Greater Bay Area in the country's southern region. Macau's Monetary Authority told Reuters in an email that it was starting feasibility studies for a securities market, including a stock market which would "leverage Macau's advantage to serve the country's need," compared with established centres Hong Kong and Shenzhen. Beijing is pushing for the special administrative region of Macau to become an international tourism destination as well as a platform for trade and business between Portuguese speaking countries and China.
Gambling revenue in the Chinese territory of Macau hit a five-month high in May, although softer demand from high rollers amid a slowdown in the world's No.2 economy and a Sino-U.S. trade war continued to keep a lid on gains. Revenue was 25.95 billion patacas ($3.21 billion), the highest this year, Macau's Gaming Inspection and Coordination said on Saturday, versus 25.5 billion patacas a year ago and also up from April's monthly haul of 23.6 billion patacas. As the special administrative region marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth.
Macau's casino operators have pledged billions of dollars to develop non-gaming attractions in a bid to secure new licences, but analysts predict only the more efficient like Sands China and Galaxy will be able to curb losses and emerge winners. The spending frenzy comes as Beijing pushes to rebrand Macau as a family-friendly destination. Operators are ploughing $10 billion into mostly non-gaming, which has traditionally been hard to monetise, before their licences expire in 2022 amid warnings new permits will be linked to efforts to diversify.
Gambling revenue in the Chinese territory of Macau fell 8.3 percent in April, the biggest year-on-year drop since June 2016, due to tempered demand from high rollers amid a slowdown in the world's second-largest economy. The figure, down from 25.8 billion patacas in March, was in line with analyst expectations for a 3-12 percent drop year on year.
Gambling revenue in the Chinese territory of Macau dipped 0.4 percent in March year-on-year, as slowing economic growth and the Sino-U.S. trade war turned off high-roller gamblers. March's revenue was 25.8 billion patacas ($3.2 billion), Macau's Gaming Inspection and Coordination posted on Monday. As the special administrative region marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth.
Macau, the world's largest gambling hub, has extended casino licences for MGM China and SJM Holdings until 2022, bringing them on par with other operators, authorities in the Chinese territory said on Friday. The Macau government said the MGM and SJM's licences, set to expire in 2020, would be extended for another two years with both operators required to pay a one-off fee of 200 million patacas ($25 million). The licence extensions in the only part of China where casinos are allowed will give authorities more time to consider how to diversify the gambling-dependent economy.
Full Year Adjusted EBITDA of $16.9 Billion , Up 19% YoY Q4 Adjusted EBITDA of $4.3 Billion , Up 4% YoY & Up 12% QoQ Announced Another Special Dividend of $0.45 Per Share HONG KONG , Feb. 28, 2019 /PRNewswire/ ...
HONG KONG, Feb 28(Reuters) - Macau casino operator Galaxy Entertainment Group Ltd posted a 29 percent rise in profit for 2018 due to robust demand from gamblers in the world's biggest casino hub. Galaxy, ...
Police in the world's biggest gambling hub of Macau are investigating what they suspect is a rare murder in a five-star casino resort after a Chinese man was found stabbed in his bed, broadcaster TDM reported on Monday. Murder cases have been rare in the Chinese territory since Portugal ceded control of what had been a colonial backwater on the heel of China's southern coast 20 years ago. The suspected murder took place in Sands China's Conrad Macau hotel, TDM reported, citing police.
As the Chinese territory of Macau marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth in the world's biggest casino hub. Macau, on China's southern coast, is the only place in the country where casino gambling is legal. To compound matters, China this week lowered its economic growth target to 6-6.5 percent in 2019 as Beijing copes with U.S. tariffs and weakening domestic demand.
Gambling revenue in the Chinese territory of Macau dropped 5 percent in January, the first drop in more than two years, as appetite for gambling waned amid slowing economic growth and increased headwinds from the Sino-U.S. trade war. The special administrative region reported 24.9 billion patacas ($3 billion) revenue, compared with 26.3 billion patacas a year ago, Macau's Gaming Inspection and Coordination said on Friday. The total revenue figure of 24.9 billion patacas dropped month on month from December last year but was the same as November's monthly figure.
The special administrative region reported 24.9 billion patacas ($3 billion) revenue, versus 26.3 billion patacas a year ago, Macau's Gaming Inspection and Coordination said on Friday. Macau, located on China's southern coast and the country's only legal casino hub, is highly reliant on gambling revenues for its finances, with taxes from the casinos accounting over 80 percent of the government's revenue.
Gambling revenue in the Chinese territory of Macau fell 5 percent in January, the first drop in more than two years, as appetite for gambling waned amid slowing economic growth and increased headwinds from the Sino-U.S. trade war. The special administrative region reported 24.9 billion patacas ($3 billion) revenue, versus 26.3 billion patacas a year ago, Macau's Gaming Inspection and Coordination said on Friday. Macau, located on China's southern coast and the country's only legal casino hub, is highly reliant on gambling revenues for its finances, with taxes from the casinos accounting over 80 percent of the government's revenue.