by Amruth Sundarkumar | May 24, 2023 | High Yield Bonds, Southeast Asia
S&P in a report emphasized its positive outlook on the Macao casino sector as part of its post-pandemic recovery. Macao’s gaming revenue is experiencing a more “robust recovery” than they previously anticipated. In 1Q 2023, gross gaming revenue...
by Amruth Sundarkumar | Jan 10, 2023 | High Yield Bonds
Dollar bonds of Macau’s casino operators were up by over 2 points as China stopped requiring quarantine for arrivals as part of ending its ‘Covid Zero’ policy. The easing in border comes ahead of the Lunar New Year holiday. Macau’s six...
by Amruth Sundarkumar | Dec 19, 2022 | High Yield Bonds, Southeast Asia
Macau’s six incumbent casino operators (MGM, Galaxy Casino, Venetian Macau, Melco Resorts, Wynn Macau and SJM) are expected to invest $14.7bn over the next decade for non-gaming projects to increase international traffic. Venetian has committed to spend MOP 27.8bn...
by Amruth Sundarkumar | Dec 16, 2022 | China, Southeast Asia
With the six incumbent Macau casino operators being given new 10Y licenses which will come into effect from 01 January 2023 to operate, Reuters notes that operators are expected to focus on non-gaming activities in the new term. It said that Beijing is keen for Macau...
by Amruth Sundarkumar | Nov 29, 2022 | High Yield Bonds, Southeast Asia
Dollar bonds of Macau casino operators jumped by over 5% yesterday after new licenses were given to the six incumbent casino operators to operate from January. This was a relief rally as GMM, backed by Genting’s Chairman Sri Lim Kok Thay missed out as uncertainty for...
