Sands China leads rise in Macau gaming stocks as daily run-rate improves

LET group

07/12/2021 07:03

** Sands China  1928.HK  leads a rise in Macau gaming
stocks, jumping 5.8%; stock is the second-biggest percentage
gainer on Hang Seng Commerce & Industry Index  .HSNC 
    ** Based on industry sources, Macau gross gaming revenue
(GGR) for the first five days of December is likely to have
reached 1.3 bln patacas ($161.79 mln), with implied daily
run-rate of 260 mln patacas — higher than that of last nine days
of November of 228 mln patacas/day - Citi
    ** "We believe the improved daily run-rate was mainly driven
by the recovery in visitor arrivals after the easing of the
validity of negative nucleic acid test results" - Citi 
    ** Galaxy  0027.HK , MGM China  2282.HK , Melco  0200.HK ,
SJM  0880.HK  and Wynn Macau  1128.HK  rise between 2.6% and
4.7% in the afternoon 
    ** VIP volumes were down 15%-18% MoM and Mass volumes were
up 20% MoM, giving signs that higher-margin Mass business was
able to offset the weak VIP business, and the MoM decline in VIP
volumes implying some VIP players might have switched to other
junkets or become Direct VIP players
    ** Last week, Suncity Group  1383.HK  said Macau VIP gaming
rooms operated by a company owned by its former CEO and
chairman, Alvin Chau, have been closed  urn:newsml:reuters.com:*:nL1N2SN02X
    ** Suncity and its unit Summit Ascent  0102.HK  slide over
11%  
    ** Hang Seng Commerce & Industry Index  .HSNC  adds 2.9%,
and the benchmark index climbs 2.1%

($1 = 8.0350 patacas)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))