According to a report by Inside Asian Gaming, the New York-based financial services giant also predicted that the upcoming third-quarter financial filing would show six people holding earnings aggregated before interest, tax, depreciation and amortization deficits for a three-month period of $603 million. Sources detailed that the latest bad news is the result of the most notable lingering effects of the coronavirus pandemic, including China’s continued adherence to a set of strict travel restrictions.
Continuous descent:
Morgan Stanley analysts Gareth Leung and Pravin Choudhary reportedly said the overwhelming third-quarter tally would bring the total debt of six Macau casino operators to at least $24 billion. The pair also reportedly disclosed that the amount was 380% worse than the roughly $5 billion in arrears held collectively by the companies in the months just before the coronavirus pandemic emerged.
Problematic prognosis:
There are nearly 40 casinos in Macau operated by MGM China Holdings Limited, Galaxy Entertainment Group Limited, Melco Resorts and Entertainment Limited, SJM Holdings Limited, Las Vegas Sands Corporation and Wynn Resorts Limited, respectively. The latest news from Morgan Stanley reportedly comes less than five months after the six companies predicted they would likely with a total delinquency of about $25 billion.
Immediate inadequacy:
Morgan Stanley reportedly expects Macau to report a third-quarter gross gaming revenue of about $680 million, representing a sequential decline of around 35%, with mass market sales accounting for about 82% of the total. The closing tally is known to be down about 92% compared to the $8.7 billion recorded by the sector in the three months before the 2019 pandemic.
Lack of certainty:
Still, the Morgan Stanley duo reportedly highlighted some optimism, including a recent announcement by Macau CEO Ho Iat Sheng that the region plans to restore package tours and local eVisa plans after long discussions with China’s central government.온라인 슬롯