Macao’s oldest gaming concessionaire has a new chief financial officer, one with extensive experience in investments, real estate and corporate finance.
Morgan Stanley
The news comes as Macao gears up for the Labour Day Golden Week holiday, with many hotels already reporting that they are fully booked.
Some 17 out of 25 hotels surveyed in a Morgan Stanley report are fully booked for the May Day Golden Week, but a lack of staff is preventing them from matching pre-Covid levels.
Casino licenses will expire in June 2022, but analysts predict they may well be extended due to the pandemic. Public consultation is still due to go ahead.
Morgan Stanley warns of overcapacity in Macau as thousands of rooms and hundreds of gaming tables come online by 2017, according to a note from the brokerage. “This could result in either cannibalization or rise in competition – thus, margin erosion,” says the note. Morgan Stanley analysts say Macau will see over 6000 new rooms […]
