CLSA estimates casino operators’ EBITDA for Q4 2023 to rebound to 82 pct of 2019 level
Wednesday 17 de January 2024 / 12:00
2 minutos de lectura
(Macau).- The gaming sector’s adjusted EBITDA for the fourth quarter of 2023 is expected to see an 8 per cent quarter-on-quarter increase to US$1.97 billion (MOP15.9 billion), a recovery to 82 per cent of the pre-pandemic level, brokerage firm CLSA said.
The forecast implies that sector EBITDA margin, compared with the overall gross gaming revenue (GGR) before netting rebates, will remain flattish quarter-on-quarter at 24 per cent.
In a Tuesday note, analysts Jeffrey Kiang, Stella Liu and Leo Pan said that during the upcoming Chinese New Year(CNY) holiday period, the scope of EBITDA margin expansion, rebates and operational granularity, would remain key investor focuses.
The analysts highlighted that hotel bookings in Macau were “fast picking up again”. Four weeks ahead of the CNY weekend (February 10-11), the four-week leading average hotel prices have already rose by 27 per cent year-on-year.
Furthermore, out of the 33 hotels surveyed by CLSA, 10 have already been fully booked for the CNY weekend, indicating high demand.
CLSA’s 2024 GGR forecast remains unchanged at US$29.2 billion, representing a 30 per cent year-on-year growth, while mass GGR for 2024 is expected to be 18 per cent higher than the 2019 level.
The analysts adjusted corporate expense forecasts and trimmed sector EBITDA forecasts for 2023 and 2024 by roughly 1 per cent to US$6.1 billion and US$8.4 billion, respectively.
By Therese Tu
Categoría:Reports & Data
Tags: Sin tags
País: Macao
Región: Asia
Event
SiGMA Central Europe
03 de November 2025
SiGMA Central Europe 2025 Closes First Edition with High Attendance and Roman-Inspired Experiences
(Rome, Exclusive SoloAzar) - The first edition of SiGMA Central Europe in Rome came to a close, leaving a strong impression on the iGaming industry. With thousands of attendees, six pavilions brimming with innovation, and an atmosphere that paid homage to Roman history, the event combined spectacle, networking, and business opportunities. It also yielded key lessons for future editions.
Friday 07 Nov 2025 / 12:00
Innovation, Investment, and AI Take Center Stage on Day 3 of SiGMA Central Europe
(Rome, SoloAzar Exclusive).- November 6 marks the final and most dynamic day of SiGMA Central Europe 2025, with a packed agenda that blends cutting-edge tech, startup energy, and investor engagement. With exhibitions, conferences, and networking opportunities running throughout the day, Day 3 promises to close the event on a high note.
Thursday 06 Nov 2025 / 12:00
SiGMA Central Europe Awards 2025: BetConstruct Wins Innovative Sportsbook Solution of the Year
(Malta).- BetConstruct has been recognised at the SiGMA Central Europe Awards 2025, receiving the Innovative Sportsbook Solution of the Year award. This achievement highlights the company’s continued focus on elevating retail betting experiences and supporting operators with solutions that create measurable business value.
Wednesday 05 Nov 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.