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Super Bowl Picks – Kansas City Chiefs Vs Philadelphia Eagles admin
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NFL Wildcard Weekend – Sea at SF, LAC at Jac, Mia at Buf, NYG at Min, Bal at Cin, Dal at TB admin
According to analysis by Deutsche Bank, Macau’s mass market gross gaming revenue (GGR) has shown significant recovery, reaching 67% of pre-COVID levels in the three months ending March 31, 2023. This recovery has been crucial in compensating for the ongoing challenges faced by the VIP segment. In comparison, VIP GGR only reached 15% of the levels recorded in the first quarter of 2019, despite experiencing a 56% year-on-year increase. Industry-wide GGR also saw a strong rebound, increasing by 95% year-on-year and reaching 45% of 1Q19 levels.
Deutsche Bank analyst Carlo Santarelli further highlighted that Property EBITDA, which represents earnings before interest, taxes, depreciation, and amortization, amounted to US$1.13 billion, equivalent to 46% of pre-COVID levels. However, industry margins decreased from 29.9% in 1Q19 to 25.8% in the first quarter of 2023, primarily due to the decline in net revenues.
The Macau recovery story has seen winners and losers among the concessionaires. Las Vegas Sands, Wynn Macau, and MGM China have all gained market share in both the mass and VIP segments compared to the first quarter of 2022. Conversely, Melco, Galaxy Entertainment Group, and SJM have experienced a decline in market share during this period.
North Carolina Closer To Mobile Sports Betting After Bill ApprovalThe state of North Carolina is moving closer to legalizing mobile sports betting as the Senate Commerce Committee has approved a […]
