{"id":1046407,"date":"2021-12-07T05:25:30","date_gmt":"2021-12-07T10:25:30","guid":{"rendered":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/uncategorized\/macau-and-las-vegas-gaming-revenues-are-headed-in-opposite-directions-whats-next-benzinga-benzinga\/"},"modified":"2021-12-07T05:25:30","modified_gmt":"2021-12-07T10:25:30","slug":"macau-and-las-vegas-gaming-revenues-are-headed-in-opposite-directions-whats-next-benzinga-benzinga","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/las-vegas\/macau-and-las-vegas-gaming-revenues-are-headed-in-opposite-directions-whats-next-benzinga-benzinga\/","title":{"rendered":"Macau And Las Vegas Gaming Revenues Are Headed In Opposite Directions: What&#8217;s Next? &#8211; Benzinga &#8211; Benzinga"},"content":{"rendered":"<p><p>Las Vegas, Nevada, and Macau, China, are two of the largest global casino gambling hubs. Both gaming destinations took big hits during the COVID-19 pandemic, but the latest gross gaming revenue numbers suggest Vegas is bouncing back strong while Macau is still struggling.<\/p>\n<p>The Numbers: Many Americans think of Vegas as the top gambling destination, but Macaus gross gaming revenue dwarfs Las Vegas. Unfortunately for Macau investors, its gross gaming revenue is still roughly 70% below 2019 levels, according to Bank of America analyst Shaun Kelley. Meanwhile, Las Vegas GGR is up 30% from pre-pandemic 2019 levels, suggesting the worst of the pandemic is now in the rear-view mirror.<\/p>\n<p>Related Link: 13 Gaming And Lodging Stocks To Buy On The Omicron Dip <\/p>\n<p>On Monday, Kelley said he models fourth-quarter Las Vegas GGR growth of 17% for MGM Resorts International (NYSE:MGM) and 10% for Caesars Entertainment Inc (NASDAQ:CZR) compared to the fourth quarterof 2019. Meanwhile, Kelley is also modeling fourth-quarter Macau GGR tobe down roughly 60% from 2019 levels for Las Vegas Sands Corp. (NYSE:LVS) and Wynn Resorts, Limited (NASDAQ:WYNN).<\/p>\n<p>Macau Headwinds: In addition to sluggish gaming revenues, Macau is also suffering from negative investor sentiment after 10 casino junket officials were recently arrested.<\/p>\n<p>This development, in our view, is more of a crackdown\/intervention risk than the concession process from back in September, but is yet another example of the 3 Cs (COVID, crackdown and concession) risks that make Macau difficult for investors at the moment, Kelley said following the arrests.<\/p>\n<p>Prior to COVID-19, VIP gaming represented 46% of Macaus total gross gaming revenue, Kelley said. As of the third quarter, that percentage had dropped to 34%.<\/p>\n<p>Benzingas Take: Gaming investors looking for less risk in the space should take a closer look at U.S. stocks that have no exposure to Macau. Kelley recently named several of his top gaming stock picks heading into 2022, including Boyd Gaming Corporation (NYSE:BYD), Churchill Downs, Inc. (NASDAQ:CHDN) and Caesars Entertainment.<\/p>\n<p>Photo by Susan Q Yin on Unsplash<\/p>\n<p><!-- Auto Generated --><\/p>\n<p>Read this article:<\/p>\n<p><a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.benzinga.com\/analyst-ratings\/analyst-color\/21\/12\/24461797\/macau-and-las-vegas-gaming-revenues-are-headed-in-opposite-directions-whats-next\" title=\"Macau And Las Vegas Gaming Revenues Are Headed In Opposite Directions: What's Next? - Benzinga - Benzinga\">Macau And Las Vegas Gaming Revenues Are Headed In Opposite Directions: What's Next? - Benzinga - Benzinga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Las Vegas, Nevada, and Macau, China, are two of the largest global casino gambling hubs.  <a href=\"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/las-vegas\/macau-and-las-vegas-gaming-revenues-are-headed-in-opposite-directions-whats-next-benzinga-benzinga\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[436511],"tags":[],"class_list":["post-1046407","post","type-post","status-publish","format-standard","hentry","category-las-vegas"],"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/posts\/1046407"}],"collection":[{"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/comments?post=1046407"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/posts\/1046407\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/media?parent=1046407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/categories?post=1046407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/prometheism-transhumanism-posthumanism\/wp-json\/wp\/v2\/tags?post=1046407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}