Tag Archives: Macau

Moody’s Investors Service has affirmed Macao’s local and foreign currency issuer ratings at Aa3 and changed the outlook to stable from negative. The factors driving the rating affirmation and stable outlook are Moody’s expectations that: The preservation of fiscal and … Continue reading →

Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) of Wynn Resorts, Limited (NASDAQ: WYNN) and all of its subsidiaries rated by Fitch at ‘BB’. Fitch also believes that the $4.2 billion Wynn Palace will outperform other casino developments on Cotai: … Continue reading →

Moody’s Investors Service has downgraded Macao’s government issuer rating to Aa3 from Aa2 and assigned a negative outlook. Moody’s also lowered Macao’s long-term foreign currency bond ceiling to Aa2 from Aaa and its long-term foreign currency deposit ceiling to Aa3 … Continue reading →

Alex Bumazhny, a director in the US Corporate Finance group at Fitch Ratings, has written a piece outlining some of the issues faced by Macau casino gaming that largely hold the territory back from becoming Las Vegas. The usual cited handicaps, … Continue reading →

A recent report mentioned by GGRAsia about the Macau casino gaming market from a Sanford C. Bernstein Co LLC team headed by strategist Michael Parker and senior analyst Vitaly Umansky, first had this to say about data verse anecdotes: “Macau … Continue reading →

A few days ago, Sanford C. Bernstein Hong Kong Ltd’s Vitaly Umansky said at the ongoing Global Gaming Expo (G2E) Asia 2015 conference that several of the current Macau casino operators could become buy outs targets for Chinese investors (see: Analyst: … Continue reading →

Tim Craighead, the head of Asian research at Bloomberg Intelligence in Hong Kong, has noted that as of the end of last week, about $30 billion has been wiped from the value of Macau casino stocks in the past month … Continue reading →

Deutsche Bank AG’s Karen Tang said in a research note on Tuesday that Macau casino stocks are entering a “multi-year earnings decline cycle” due to negative factors such as falling VIP and premium mass play; smaller minimum bets from those … Continue reading →

On Wednesday, Sheldon Adelson, chairman and CEO of Las Vegas Sands Corp (NYSE: LVS), told an audience of students at the Institute for Tourism Studies (IFT) in Macau that VIP casino gamers are: “…staying below the radar until the Chinese government says … Continue reading →

Quoting several brokerages, a lengthy article in GGRAsia says a proposed full smoking ban in Macau casinos, including VIP rooms, will have a negative impact on VIP revenue. For example: DS Kim and Daisy Lu from JP Morgan Securities (Asia … Continue reading →

There is a must read and lengthy Wall Street Journal article about the troubled Macau casino junket system with the article being accompanied by this short video segment where Kate O’Keeffe explains how the junkets have helped Macau casinos, but … Continue reading →

Fitch Ratings says that continued weakness in the VIP casino gaming segment has contributed to a reduction in the full year 2014 Macau gaming revenue forecast to 4% – down from a forecast of 10% which was already reduced in … Continue reading →

In what should translate into some good news for the Macau casino gaming sector, the Macau Government Tourist Office head Maria Helena de Senna Fernandes has been quoted by GGRAsia as saying visitor growth is expected to remain at “around … Continue reading →

Macau Business Daily has quoted Union Gaming analysts Grant Govertsen and Felicity Chiang as saying the casino gaming industry is suffering from a VIP gaming slowdown, mainly caused by Beijing’s anti-graft crackdown, and also because the mass market has been … Continue reading →