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Fly News Breaks for February 4, 2020
MGM, MLCO, WYNN, LVS
Feb 4, 2020 | 08:17 EDT
Bernstein analyst Vitaly Umansky notes that the Macau government will be shutting down the casinos for a minimum of "half a month." With casinos already closing restaurants and other services over the past several days in light of tepid customer visitation, shutting down all operations would be easier and potentially allow for slightly more cost savings, he contends. Whatever the details of the temporary shutdown are, the analyst believes Q1 is "obviously going to show awful results." Assuming only a 2-week shutdown followed by some soft business resuming in late February and March, Q1 could show GGR year over year decline of 50%, he adds. Nonetheless, at this stage Umansky sees Macau having a "solid" recovery in the second half of the year, with recovery contingent on the contagion being brought under control and travel into Macau resuming, and China's economy not faltering materially and reducing customer confidence. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Resorts (MLCO).
News For LVS;WYNN;MLCO;MGM From the Last 2 Days
MLCO, WYNN, LVS, MGM
Jun 24, 2022 | 15:44 EDT
Welcome to the latest edition of "Bet On It," where The Fly looks at news and activity in the sports betting and iGaming space. SECTOR NEWS: Fanatics... To see the rest of the story go to thefly.com. See Story Here