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US, Macao casinos poised for V-shaped recovery: Analyst UPDATE 1-MGM Resorts withdraws forecast blaming coronavirus, CEO steps down. PM​.


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Macao casino's Gross Gaming Revenue (GGR) for June dropped 97% Sands China said today it estimates that the net proceeds from the offering of senior.


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The estimated average daily amount of Macau casino gross gaming revenue (​GGR) for the first week of July has shown a trend of improvement from the average.


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Coronavirus: Macau casinos reopen to sparse crowds as punters hedge bets despite new health precautions. Low-key return marked by tight.


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Macau. World Casino News covers Macau. The world's richest gambling center it will be extending its current raft of coronavirus-related border controls until at.


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Pent up demand is expected to drive a rebound in Macao's casinos in the second half of this year, says Glenn McCartney of University of Macau, explaining the resilience of the sector. Macao's gross gaming revenue recovery will be 'very, very modest at best' post-virus crisis. News Tips Got a confidential news tip? Market Data Terms of Use and Disclaimers.{/INSERTKEYS}{/PARAGRAPH} Data also provided by. US, Macao casinos poised for sharp recovery: Analyst. Lan Kwai Fong virus precautions are in place, says chairman. All Rights Reserved. Cruise industry gives Asia a wide berth as it seeks to limit coronavirus risks. CNBC Newsletters. While the vast majority of cases have been in China, the virus has spread to some two dozen countries abroad, including five British nationals infected in a French mountain resort. We want to hear from you. More gains are on the way, says Oppenheimer's Ari Wald. Macao gaming operators that are more reliant on high rollers may experience an earlier but "marginal" rebound, says Vitaly Umansky of Sanford C. All Macao casino operators will rebound 'pretty steadily,' says analyst. To that end, many cruises in the region are being cancelled while others currently sailing are being re-routed, skipping Another 5, new cases were confirmed, pushing up the number of infected patients to 63, BANGKOK, Feb The plight of the cruise ship off Japan with more than coronavirus infections and the shunning of another by five ports despite no known cases has led to a sharp change in tack for an industry in shock: avoid Asia. Sign up for free newsletters and get more CNBC delivered to your inbox. Regardless of the business disruptions from the ongoing COVID crisis, Macao should be focusing on diversifying its gaming sector to stay competitive and attractive to non-Chinese markets, says Grant Govertsen of Union Gaming Group. Markets Pre-Markets U. {PARAGRAPH}{INSERTKEYS}Casino stocks, among the hardest hit early in the coronavirus pandemic, have bounced hard off their lows. Macao's casinos likely to rebound in second half of Professor. As Hong Kong authorities announced ongoing investigations into possible coronavirus transmissions at Lan Kwai Fong, chairperson Allan Zeman stresses they have precautions in place. As for Macau's gaming sector, Zeman, who is also the chairperson of Wynn Macau, says "more positive things are on the horizon. To that end, many cruises in the region are being cancelled while others currently sailing are being re-routed, skipping originally MGM said it suspended operations at its two properties in Macau for a government mandated day period, which started on Feb. Jonathan Galligan of investment group CLSA says he expect Las Vegas and Macao's casinos to benefit from aggressive customer demand once the number of coronavirus cases levels off meaningfully. Get this delivered to your inbox, and more info about our products and services. Get In Touch. Macau gambling king Stanley Ho dies at Booking a table at Asia's No. This is the third death outside mainland China the Philippines and Hong Kong have reported a death each. BANGKOK, Feb The plight of the cruise ship off Japan with more than coronavirus infections and the shunning of another luxury liner by five ports despite no known cases has led to a sharp change in tack for an industry in shock: avoid Asia. MGM added that it was difficult to weigh the fallout of the epidemic on its business as the suspension could be extended and customer traffic could fall further at its properties. Many expect revenues to keep falling at the same pace, with some even forecasting almost no revenue while the curbs stay.