China Macro Says It Doesn't Hurt Macau Games: MS

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  1. Iniciado 2024
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Morgan Stanley Asia Inc's Monday memo cited comments from Macau casino operators saying concerns that China's macroeconomic outlook could hurt Macau's post-pandemic casino gross gaming revenue (GGR) recovery trend "so far" have not materialized. 파워볼게임
"They claim that the top 1 percent of mainland Chinese are spending on travel and entertainment, as are luxury sales in China," wrote analysts Praveen Choudhary and Gareth Leung in an article about the brokerage's visit to the Macau market this month.
"This is why recovery is premium [segment] driven and pulverized mass lags," the analysts added.
They added, "Young customers can be seen on the casino floor as well as around the resort. Luxury customers are spending around or more than pre-COVID levels."
Citigroup said in a note on Sunday that an August snapshot survey of Macau's gaming floor counted 24 "whales" (an idiom for highly valued casino players), nearly 89% of the 27 big players it saw in the 2019 Chinese New Year.
The big players seen this month added that they were betting HK$100,000 (roughly Rs. 12,767) on one hand at HK$500,000.
Citigroup analysts George Choi and Ryan Cheng wrote that these levels "suggest that despite the current economic situation in China, we are still willing to play and able to play."
Morgan Stanley said in a note Monday that shopping activity was particularly strong at Macau casino resorts during the industrial recovery after travel restrictions related to the COVID-19 pandemic were lifted in January.
Morgan Stanley said macroeconomic indicators encouraging Macao were "unlike other markets, the city is not seeing inflation."
Macau's composite consumer price index (CPI) rose 0.78% in July from a year earlier, according to the Macau Statistics Office. In the 12 months to July 2023, the average composite CPI was up 0.88% from the previous period,

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Morgan Stanley Asia Inc's Monday memo cited comments from Macau casino operators saying concerns that China's macroeconomic outlook could hurt Macau's post-pandemic casino gross gaming revenue (GGR) recovery trend "so far" have not materialized. 파워볼게임
"They claim that the top 1 percent of mainland Chinese are spending on travel and entertainment, as are luxury sales in China," wrote analysts Praveen Choudhary and Gareth Leung in an article about the brokerage's visit to the Macau market this month.
"This is why recovery is premium [segment] driven and pulverized mass lags," the analysts added.
They added, "Young customers can be seen on the casino floor as well as around the resort. Luxury customers are spending around or more than pre-COVID levels."
Citigroup said in a note on Sunday that an August snapshot survey of Macau's gaming floor counted 24 "whales" (an idiom for highly valued casino players), nearly 89% of the 27 big players it saw in the 2019 Chinese New Year.
The big players seen this month added that they were betting HK$100,000 (roughly Rs. 12,767) on one hand at HK$500,000.
Citigroup analysts George Choi and Ryan Cheng wrote that these levels "suggest that despite the current economic situation in China, we are still willing to play and able to play."
Morgan Stanley said in a note Monday that shopping activity was particularly strong at Macau casino resorts during the industrial recovery after travel restrictions related to the COVID-19 pandemic were lifted in January.
Morgan Stanley said macroeconomic indicators encouraging Macao were "unlike other markets, the city is not seeing inflation."
Macau's composite consumer price index (CPI) rose 0.78% in July from a year earlier, according to the Macau Statistics Office. In the 12 months to July 2023, the average composite CPI was up 0.88% from the previous period,

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Detalles de la petición

Petición iniciada: 18/02/2024
Fin de la colección: 18/05/2024
Región: Unión Europea
Categoría, Tema: Protección al consumidor

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