Morgan Stanley has revised its Macau-wide gross gaming revenue (GGR) estimates for 2023, with gaming revenues now projected to reach almost US$20 billion and rise to over US$25 billion next year. Analysts Praveen Choudhary, Gareth Leung, and Stephen Grambling expect mass gaming revenues to reach 90% of 2019 levels this year and 115% in 2024. The gross gaming revenue (GGR) is predicted to reach US$19.9 billion or 88% of pre-COVID mass levels this year, increasing to US$25.7 billion or 114% next year. Sands China and MGM China have also reported a strong recovery trajectory, leading to an increase in EBITDA estimates for both concessionaires.
Penn National and Barstool RisksPenn National Gaming is facing risks associated with its connection to the Barstool brand, as recent controversies have overshadowed the company’s online progress. Analysts suggest that […]