[ET Net News Agency, 3 February 2020] Macau's gross gaming revenue (GGR) declined 11%
year-on-year to MOP22.1bn in January, implying a daily run-rate of MOP714m/day.
J.P. Morgan said it probably doesn't mean much (if anything) for sentiment or forward
estimates, given ongoing travel restrictions and visa suspensions amidst the novel
coronavirus outbreak.
Assuming the visa suspension remains in place, the research house estimated February GGR
could fall roughly by 40-50%, which admittedly carries a substantial margin of error. JPM
maintained its full-year estimates, given it is still early days of assessing the
coronavirus epidemic impact.
With 20% average corrections since the coronavirus outbreak, Macau stocks now trade at
10.7x 2020 (pre-virus) EBITDA, which is what JPM views as floor levels of the 10x current
multiple. (KL)
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01128 WYNN MACAU
Nominal 
5.410 +0.120 (+2.268%) Research Report
03/02/2020 11:15
{I-bank focus}Macau February GGR seen to drop sharply - JPM
| Remark: | Real time quote last updated: 26/09/2024 10:34 |
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