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<Research>BofAS: GGR Shows More Tourists Visiting MO After CNY; Feb GGR Expected to Remain Largely Flat YoY
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BofA Securities has released a report indicating that, according to its industry survey, Macau's February GGR currently aligns with observations from some operators, suggesting that more tourists have postponed their trips to Macau until after February 5 this year. In the broker's estimate, GGR between February 10 and 16 was MOP642 million, compared to less than MOP600 million last year, indicating that longer Chinese New Year (CNY) travel may help alleviate investor concerns over weak GGR performance in the first week of the CNY. In addition, the current trend reflects that February GGR will remain largely flat YoY or mildly grow MoM, which means a total YoY decline of 2-3% was recorded for the first two months. Regarding January's GGR market share, BofA Securities' survey found that SANDS CHINA LTD (01928.HK) and Melco Resorts & Entertainment (MLCO.US) climbed 1.5 and 2 ppts MoM respectively, with the latter even reaching the highest level since re-opening. Meanwhile, WYNN MACAU (01128.HK) and MGM CHINA (02282.HK) recorded a drop of 1.5 and 2 ppts respectively, with the former falling to the lowest level since re-opening. GALAXY ENT (00027.HK) and SJM HOLDINGS (00880.HK) stayed flat MoM. AAStocks Financial News |
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