Jul 18, 2014 Newsdesk Latest News, Macau, Top of the deck  
Union Gaming Research LLC is forecasting casino operator MGM China Holdings Ltd to post earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$210.2 million for the second quarter of this year.
The research firm said its estimate is below industry consensus of US$225.0 million EBITDA for MGM China. The casino company reported adjusted EBITDA of US$240.7 million in the first quarter of the year.
Union Gaming analysts, led by Grant Govertsen, wrote in a note issued on Wednesday that “recent data” suggest that MGM China results “should be in-line with our estimate, and this is corroborated by more recent downward migration of Street estimates. We remain comfortable with our below-consensus EBITDA estimate reflecting our cautious near-term view on Macau.”
The Macau gaming industry lacks visible upside catalysts over the near term, according to the research house. Union Gaming in June said it anticipates “a string of negative headlines over the summer”, which should maintain downward pressure over the sector.
MGM Resorts International, the parent of MGM China, is scheduled to report second-quarter results on August 5.
Union Gaming raised its estimates for MGM Resorts’ business in Las Vegas. It now forecasts the company to report property level EBITDA of US$631.2 million, up from US$625.4 million.
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”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”
Sherwin Gatchalian
Chairman of the Committee on Ways and Means of the Senate of the Philippines