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GGRAsia – Mass players not spending as much as before: Melco COO


Mass-market players in the Macau casino sector “do not seem to be playing quite as strongly as they have in the past,” said a senior executive from Melco Resorts and Entertainment Ltd during the group’s first-quarter earnings call on Wednesday.
That might be “a function of… a different customer coming in right now,” added David Sisk (pictured in a file photo), the firm’s chief operating officer.
A Monday note from brokerage Sanford C. Bernstein Ltd mentioned Macau’s April casino gross gaming revenue (GGR) had been “steady” even as visitor volume had risen, indicating that the recovery of the Macau tourism sector had involved a “low-value customer” segment in gaming terms. ....

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GGRAsia – Melco Resorts 2021 revenue likely 50pct of 2019: Moody's


Casino operator Melco Resorts and Entertainment Ltd could see its 2021 revenue recover to 50 percent of 2019 levels, says a Thursday note from Moody’s Investors Service Inc.
This would probably be “driven by a faster recovery in the mass-market segment than the VIP segment,” said analysts Sean Hwang, Gloria Tsuen, and Keun Woo Park.
Melco Resorts’ key market is Macau, where it runs the City of Dreams and Studio City resorts on Cotai, and Altira in Taipa. It also runs the City of Dreams Manila casino resort in the Philippine capital, and has gaming operations in the Republic of Cyprus.
Recently-issued Macau government data on the structure of the gaming market in the first quarter, showed that mass-market games – including slot machines – provided 61.4 percent of all Macau’s casino gross gaming revenue (GGR), at MOP14.51 billion (US$1.82 billion). ....

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GGRAsia – Lawrence Ho awarded US$10mln in Melco Resorts shares


Lawrence Ho Yau Lung (pictured), chairman and chief executive of Macau casino operator Melco Resorts and Entertainment Ltd, has been awarded American depositary shares with a market value of US$10 million, according to a Thursday filing in the United States.
The 484,956 restricted depositary shares valued at US$20.68 each, are equivalent to 1,454,868 Melco Resorts shares.
The size of the award had been determined with reference to Mr Ho’s “duties and responsibilities as director of a subsidiary of Melco Resorts in Macau, where the majority of Melco Resorts group’s business is located,” said the filing.
The restricted shares granted represent approximately 0.10 percent of Melco Resorts’ issued shares as of the date of the announcement, said the filing. ....

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