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Stock impact report

Macau Casinos Remain Resilient in April as Consumers Seek Fun [BNN Bloomberg (Canada)]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
Company Research Source: BNN Bloomberg
Gross gaming revenue rose 26% from a year earlier to 18.5 billion patacas ($2.3 billion) for the month, according to data released by the Gaming Inspection and Coordination Bureau on Wednesday. That compares with the median analyst estimate of a 23% year-on-year increase. Revenue is now about 79% of the pre-pandemic level in 2019. Key Insights The five-day Labor Day holiday starting May 1 will be a key test for the Macau gaming industry's ability to withstand China's broader slowdown and weak consumer sentiment. There are already some signs showing the holiday, dubbed the golden week, may be relatively weak. Average hotel daily room rates are more than 20% weaker than during the same period in 2019, while about 40% of hotels have fewer days where rooms are fully booked, according to data from Morgan Stanley. Macau authorities expect to see a daily average of 130,000 visitor arrivals during the holiday, which would be 18% lower than the 2019 level. This compares with a record nu Show less Read more
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