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\tCotai casino resort Studio City (pictured) generated approximately US$6 million in gross gaming revenue (GGR) for the five days of October that it was operational, suggested a note on Wednesday from Deutsche Bank Securities Inc.<\/p>\n
\tThe institution added that \u2013 extrapolating the estimated figure into an approximately US$440-million daily run rate covering a period of 12 months \u2013 would mean Studio City, which launched on October 27, was adding approximately 1.6 percent to Macau\u2019s annual revenue at the current market run rate pace. That, said the note from analysts Carlo Santarelli and Danny Valoy, would mean Studio City is underperforming relative to its gaming table allocation from the Macau government and its hotel capacity.<\/p>\n
\t\u201cTo put this in perspective, we note that the 200-table allocation adds 3 percent to market table capacity and the 1,600 hotel rooms adds approximately 5 percent to hotel capacity,\u201d said the Deutsche Bank team.<\/p>\n
\tStudio City was given a new-to-market allocation of 200 tables at launch, with a further 50 available from January.<\/p>\n
\tAnalysts Jamie Soo and Adrian Chan of Daiwa Securities Group Inc said in a Wednesday note: \u201cBased on the implied flat week-on-week ADR [average daily revenue in Macau] for the last week of October, the opening of Studio City did not appear to drive any material incremental demand, but it is perhaps too early to draw conclusions based on the five-day data set.\u201d<\/p>\n
\tMelco Crown Entertainment Ltd, a 60 percent owner of Studio City, is due to report its third quarter results on Thursday evening Macau time. Lawrence Ho Yau Lung, co-chairman and chief executive of the firm, has said it was a \u201cbusiness decision\u201d not to offer VIP gambling at the resort at this stage.<\/p>\n
\tDaiwa said in a note on October 27 that Studio City had a \u201cplanned VIP area\u2026 located on the second floor of the casino, though it will not be opened at this time\u201d.<\/p>\n
\tChristopher Jones and John DeCree, analysts at Union Gaming Research LLC, said in a Wednesday note regarding Studio City: \u201cWe expect investors will be focused on early signs of demand at the new property, however, it is likely still too early for any meaningful insights.\u201d<\/p>\n
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Cotai casino resort Studio City (pictured) generated approximately US$6 million in gross gaming revenue (GGR) for the five days of October that it was operational, suggested a note on Wednesday from Deutsche Bank Securities Inc. The institution added that \u2013…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-9195","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/9195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=9195"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/9195\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=9195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=9195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=9195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}