Market Overview

Bernstein Checks Indicate Weak Start For Macau Gaming In June


Berstein analyst Vitaly Umansky offered comments on the Macau gaming market Tuesday morning. Umansky's recent checks suggested a "weak start" to gross gaming revenue within the region for the month of June.

Umansky modeled for Macau gross gaming revenue of about MOP2.5B during last week, a number which pointed to an average daily rate of MOP510M. Using an average daily rate between MOP530M-MOP570M for the remainder of June, the Bernstein analyst said gross gaming revenue for the entire month would come in down 3-9 percent on a year-over-year basis.

"As we reported in our latest findings from Macau, we expect the government to continue tightening regulatory scrutiny of junket operators and the VIP gaming market. As a result, government actions are likely to weigh on VIP gaming in the near-term as well as driving consolidation amongst junket operators as smaller junkets are forced out of the market given higher costs of compliance," according to Umansky.

Below is Umansky's coverage universe for Macau gaming:

  • Sands China - Outperform;
  • Wynn Macau - Outperform;
  • Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL) - Outperform;
  • MGM China - Outperform;
  • Galaxy Entertainment - Outperform; and,
  • SJM - Market Perform

Latest Ratings for MPEL

Feb 2017UpgradesEqual-WeightOverweight
Jan 2017UpgradesReduceNeutral
Jan 2017UpgradesNeutralBuy

View More Analyst Ratings for MPEL
View the Latest Analyst Ratings

Posted-In: Berstein Macau Vitaly UmanskyAnalyst Color News Analyst Ratings


Related Articles (LVS + MGM)

View Comments and Join the Discussion!

Latest Ratings

WDAYSociete GeneraleUpgrades
BKUDA DavidsonInitiates Coverage On39.0
JDVertical GroupInitiates Coverage On
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

CLSA On McDonald's: Expect Limited Growth In China Over Next 3 Years

Piper Jaffray's Tamminga On 'Why Mall-Based Retail Still Matters'