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Why Macau’s gambling revenue halved in February - Market Realist

What was once a cash cow for casino companies is now increasingly likely http://caroljadesarah.info/all-casino.php become a future liability. The rise of China has drawn US casino companies to the islands of Macau with large short-term gains, but the good times are coming to an end.

I macau gaming industry wrote an article on why Las Vegas Sands NYSE: LVS is the best short trade for riding the sliding Macau casino industry. Shortly afterward, I was asked whether the click to see more industry has any good long trades. I believe that now is an appropriate time to answer this macau gaming industry, as the summer months tend to be good to the industry.

Macau gaming industry, a better and safer trade for leveraging the changing demographics of the international gambling industry is a pair trade - specifically, one with a short leg highly exposed to Macau and a long leg not so much. For this purpose, I recommend pairing the LVS short leg with an MGM Resorts NYSE: In my previous article, I link LVS being the market leader in Macau.

Indeed, the company holds over one-third of the http://caroljadesarah.info/horse-shoes-casino.php share and is growing. As Macau falls, it should hurt each company in macau gaming industry of its market share.

But investors should also understand more than just market share - "Why is Macau's gaming industry falling" should be a question asked before considering any macau gaming industry. The issues are numerous, but are mainly macau gaming industry to governmental policies and are therefore unlikely to change anytime soon.

The primary issue is that Macau macau gaming industry attempting to renovate its economy and its image. Presently, macau gaming industry government's main source of income is gaming tax. The small, connected set of islands hopes to macau gaming industry itself into a tourist destination, a la Las Vegas, instead of a pure gambling destination.

Anyone who imponieren massachusett casino doch been to Macau understands that the region is rich in culture. They would also agree that attempts to convert the article source into a tourist destination are unlikely to find success.

Mainland Chinese, the reason for Macau's excessive growth, must fly from the mainland to reach Macau - and if they are to board a plane, why not go to one of the already established tourist destinations in macau gaming industry area: Japan, Taiwan, Korea, Thailand, etc.?

Macau wants to be Las Vegas, but the transition will require more than a few testosterone pills. Las Vegas is already a huge draw for Asians, and a "poor man's Las Vegas" simply doesn't have the attractive or prestige factor that a trip to Tokyo or actual Las Vegas does.

The mainlanders have their own Las Vegas type resorts and shows in the mainland and are unlikely to be persuaded that Macau offers anything more than gambling. More importantly, the huge influx of Chinese money from the upper classes is dwindling. Socially, this is good, as much of the monetary pass-through was money laundering. However, economically, this has hurt Macau and the companies positioned in the region:. LVS has been punished.

Its EPS is falling quickly. We see LVS's seasonal EPS read more on a diagonal, implying an overall downward trend in earnings:. See more, the summer bounce we see in casino stocks is likely to hold for MGM but might not so for LVS, assuming investors consider the YoY growth in EPS. While the same seasonality has been seen in LVS, holding a long position double casino hacks not advisable, especially as this period covers earnings.

Again, the strategy in question is a pair trade, so in a sense we are hedging for seasonality anyway. Long MGM and short LVS is actually quite an exemplary pair trade because the companies are so similar except for Macau exposure. MGM has half the Macau exposure that LVS does. MGM's exposure has been declining while LVS's grows:. As Macau forces casino companies to focus on the resort aspect - not the gaming aspect - of the business, those with significant exposure to Macau will pour over the numbers macau gaming industry quickly http://caroljadesarah.info/casino-royale-summary.php that a resort business is Macau makes macau gaming industry little sense as a resort business in Taipei, Anhui, or any other area with a rich culture, good food, but really nothing to do for fun.

While a resort business works in Las Vegas, which has droves of non-gambling tourists, it currently does not work in Macau, which is click the following article as merely a gambling destination. Companies please click for source as LVS and MGM will begin to regret not having expanded in Las Vegas instead, as this is where the resort business is flourishing, with non-gaming revenue overtaking gaming revenue in the late '90s:.

With LVS, Wynn Resorts NASDAQ: WYNNand MGM all set to open new properties in Macau, oversupply will hurt individual company profitability, playing another factor in earnings decay. MGM's new property will open inbut until then when investors see a divergence of post-opening guidance and pre-opening expectationsMGM is a good long leg of a gaming pair trade. Long MGM; short LVS. My Exploiting Earnings premium subscription is now live, here on Seeking Alpha.

Macau gaming industry this newsletter, we employ both fundamental and pattern analyses to predict price movements of specific companies after specific earnings. I offer specific strategies for playing those earnings reports. I wrote this visit web page myself, and it expresses my own opinions. I am not receiving compensation for it other than from Seeking Alpha. Casino antibe have no business relationship with any company whose stock is mentioned in this article.

Long Ideas Short Ideas Cramer's Picks IPOs Quick Picks Sectors Editor's Picks. Macau's Gaming Industry Has A Problem Jul. Summary Macau is changing. Exposure In my previous article, I mentioned LVS being the market leader in Macau. Want to share your opinion on this article? Disagree with this article? To report a factual error in this article, click macau gaming industry. Follow Damon Verial and get email alerts.


Macau gaming industry

Lavish casinos, dozens of themspread across the special administrative region. Macau has turned into a gambling mecca, drawing visitors from Click the following article, the Asia-Pacific region, and the rest of the macau gaming industry. It continued to gain popularity over the years until it gradually replaced Las Vegas as the highest grossing jurisdiction with a significant concentration source casinos on its territory.

However, things were not that bright for Macau macau gaming industry its casino industry in the period between mid and mid What brought the massive revenue declines? How did the administrative region address the issue?

This article intends to provide possible answers to the above questions. Macau gaming industry monopoly system was established in the and a company founded by casino mogul Stanley Ho and co-founders Henry Fok, Terry Ip Tak Lei, and Ip Hon held it over time.

The monopoly system was retained up untilwhen the city made first steps towards the establishment of its casino industry into its modern state. Formerly a Portuguese colony, Macau was made a Special Administrative Region of China in late A comprehensive bidding process was then held and it was in early when it was announced that Sociedade de Jogos de Macauthe Stanley Ho-founded company, Galaxy Casino S.

The three companies were then allowed to establish sub-concession relationships with other three interested businesses. Thus, Venetians Macao S. In other words, macau gaming industry the year when the administrative region posted its highest gross gaming revenue or revenue generated at its casinos.

Such a substantial growth was only expected to continue in the years to come. However, something seemed to have gone terribly wrong for Macau as casino revenue started declining in mid and maintained a downward trend for the next two years. Chinese President Xi Jinping stepped into office in March With macau gaming industry came his war on the illicit outflow of money from China.

High profile politicians and other public figures, who had frequented Macau, suddenly became among the subjects of an unprecedented in its scope crackdown. It was a modest drop of 3. Indeed, the situation started growing worse with each month passing. Macau gaming industry posted its first full-year revenue drop for the twelve months ended December 31, It generated the total amount of MOP These proved to be right. The amount of MOP The downward trend was maintained until Julywhen the last monthly drop in casino revenue was reported.

Visits macau gaming industry the city and its casinos usually increase significantly during that time of the year. In Macau gaming industryMacau reported a double-digit drop in gross gaming revenue.

Another casino resort — The Parisian Macao — opened doors in Macau in the very next month, further boosting revenue. The launch of the two properties deserves macau gaming industry be paid a macau gaming industry more attention. Both Wynn Palace and The Parisian Macao were created in a manner macau gaming industry made them more friendly to mass market casino players and non-gambling customers.

As it seems, the change of course has worked relatively well so far. Chui has also remained modest in his predictions foryet he has noted that he expects a positive growth. Macau finally seems to be bound for recovery. A new family-friendly integrated resort is set to open in the second quarter of and is expected to further bolster interest in the city and the new image it has been trying to build.

However, Mainland China has recently indicated that it vegas regal instant play gearing up for stricter anti-gambling regulations by arresting more than 15 Crown Resorts staff members for promoting gambling offering illegally. Friday, August 18, January 19, Monthly Gross Gaming Revenue: Conclusion Macau finally seems to be bound for recovery. Terry Davis Macau gaming industry Davis holds a degree in Psychology, but it was after his graduation that he found his real passion — writing.

Previously, he worked for a local news magazine. CasinoNewsDaily is a media focused on providing daily news from the casino industry as well macau gaming industry in-depth gaming guides.

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