Macau

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Last quote about Macau

Vitaly Umansky
In the long run should be value additive to the company. However dividend growth may be limited over next few years as FCF (free cash flow)is redirected to capital expenditure.feedback
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Oct 25 2017
Multiple people spoke about Macau in the news. We gather all their quotes on this page, an easy way to see all views about this topic at a glance. To go deeper, all quotes are redirected to the article from which they come. Harry Curtis is the person who had the greatest number of quotes. The most recent one of them is: “In the past, any lift in openings-driven Macau visitation was transitory in nature, typically lasting no more than two weeks. We believe that Parisian is having a stronger impact on driving visitation than is the Palace.”.
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Ian Lei

We are extremely concerned about the preservation policies for modern architecture in Macau.feedback

Desmond Lam

Gaming concessions for the six casino operators in Macau will expire between 2020 to 2022. The industry is still somewhat unclear what will happen to these concessionaires after that. Recently, there have been some rumors that the Macau government may allow a seventh operator to enter this market.feedback

Steve Wynn

Mass has an awful lot to do with access. We're literally surrounded on four sides by things that are under construction that will all add to our mass. It's very important that you don't get caught up in the very short-term myopia that your professions demand in many respects.feedback

Jose Luis de Sales Marques

They were given positions when they were still very young, very leading positions.feedback

Bill Chou

Now there is a tendency to impose self censorship to not raise the attention of the liaison office.feedback

Chan Chun-kit

We will be the second Macau sooner or later. Our freedom has been gradually stifled.feedback

Seri Subahan Kamal

There are a few test matches that the national team department is arranging. Rest assured that the one that is confirmed is an away match on the 25th (August), against Macau. On the 26th we will be flying off to Yangon, Myanmar and on the 29th we will play Myanmar. Then we will come back and have a short Aidiladha break on the first (of September), the boys will come back on the second, and we will have the game (against Hong Kong) at the Hang Jebat Stadium in Melaka on the fifth of September.feedback

Vitaly Umansky

High hold rates in VIP along with the continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend.feedback

Grant Govertsen

We expect July to start rather slow due to Xi Jinping's visit to Hong Kong.feedback

Vitaly Umansky

Channel checks through the first three weeks of June show the month is tracking to be well north of 30 percent. The strength in the VIP side continues to surprise everybody.feedback

Grant Govertsen

Based on our on-the-ground conversations, we believe that the mass market trajectory seen in 1Q17 (up 15 percent) has carried through into 2Q and is likely now in the high teens.feedback

Vitaly Umansky

The Macau gaming industry has now shown a strong recovery from over two years of declines. We continue to view the industry as a secular growth story driven by the paradigm shift from VIP to mass.feedback

Vitaly Umansky

We continue to voice caution about the accuracy of weekly channel check estimates and the strength (and volatility) surrounding VIP. High hold rates in VIP along with continued volume strength creates volatility and lack of ability to more accurately forecast the monthly trend.feedback

Brian Yarbrough - Edward Jones & Co.

Mainland China was very strong, but other parts of China were weaker and Macau and Hong Kong have been struggling now for a little while.feedback

Abdulrazak al-Hussein

We heard that our home was going to be Qatar, then Lebanon or Macau. I don't know what happened exactly. There shouldn't be all these rejections and non-acceptances.feedback

Ben Lee

China warning specifically that they would crack down again on foreign casinos should be heeded by all, especially those operating in the online space.feedback

John DeCree - Union Gaming Group

The market started to recover last October and November so we have another five months of runway.feedback

John DeCree - Union Gaming Group

The way investors are looking at it, if they want exposure to the recovery, Macau's Wynn is their way of playing that. For Wynn, about 75 to 80 percent of their profits are coming from Macau.feedback

John DeCree - Union Gaming Group

That VIP customer is coming back and Wynn has been capturing a greater share of that customer. There just has been a resurgence in liquidity, and that's the customer we're seeing.feedback

Sheldon Adelson

After a challenging period the Macau market is growing again – and its growth rate has been accelerating for three consecutive quarters.feedback

Axel Dumas - Hermès International

In China, there is an acceleration with a growing appetite for consumption following a government stimulus package launched in 2016. Hong Kong and Macau are also back to a positive momentum. Overall the dynamism of mainland China drives the whole region. The impact will eventually be favourable on the liquidity of the Hermes shares.feedback

Steve Wynn

We're enjoying a resurgence of activity at the top end in China. People are settling back into routines that they're comfortable with, and that includes, you know, going to Macau and buying a new car or shopping at Louis Vuitton. The new tower that the rooms that were added at the City of Dreams is coming into season and then that's it, the door sort of closes on more supply. And then we're just left with the enormous demand of China.feedback

Stephen Constantine

I believe we have a chance to qualify and I like to think Myanmar has the same. I'm not sure about Kyrgyzstan or Macau. It's the first game of the competition, it's an away game and we didn't come here to lose. We have big respect for Myanmar we come here to play. They've shown big improvement over the last few years. But we come here to play.feedback

Enrique Razon - Bloomberry Resorts

You know, with more properties coming online, it should increase the size of the (Philippine) market. I think medium- to long-term, everybody's going to do great. Travel restrictions to the Philippines have been lifted by China after President Duterte's visit to China, so that's helped generally in tourism coming into the Philippines. It's a long game. Of course ... there's a lot of 'ifs' to that. If, if, if, you know. So we'll have to see.feedback

José Chui

I have no idea. I read (about it) in the newspaper, but I have no information from my sources. I don't think I'm in a position to give you any details.feedback

Alex Bumazhny - Fitch Ratings

I don't think Japan is going to catch up with Macau for the simple reason that I think Japanese lawmakers, when they're making the bills, will limit the amount of gaming that could take place. What we're talking about is two to three large integrated resorts, maybe a couple more regional type of small casinos, so limited amount of positions. And they may even limit locals from gambling or have a fee like they do in Singapore where locals have to pay a fee to get into the casinos. So, all these things may constraint the actual amount of revenue that could be generated in Japan.feedback

Chang Yong-seok

A queen can play a very important role when a crown prince is proclaimed. We have nowhere to go, nowhere to hide, and we know that the only way to escape is to commit suicide.feedback

Nicolas Levi

He had mistresses abroad, used to meet North Korean diplomats and had a network of friends in North Korea.feedback

Steve Wynn

The long-term thrust of China is inexorable and undeniable – and that's why we built what we built and we're going to build more in the future. We have to have our prices and our business plan all locked down before I go to my board to get their permission and to proceed.feedback

Marc Breuil - Berkshire Hathaway Specialty Insurance

After putting down roots in Singapore, Hong Kong, and Macau, we are pleased to further expand our operations in Asia and bring facultative reinsurance capacity and new products with the backing of our strong balance sheet to selected Malaysian insurance partners.feedback

Mathan Somasundaram - Baillieu Holst

There was the privatization plan ... that was all about a global growth play and it seems like that is completely out of the picture now.feedback

Grant Govertsen

They're just feeling better about their own situation, and that they're not going to be caught up in the so called drag net.feedback

Grant Govertsen

After three years of the anti-corruption program in mainland China, some of what we would call the smaller VIP players are coming back to the market, The Rundown.feedback

Grant Govertsen

New casinos opened over the past few months, a ramp-up of marketing programs, and the government's push into mass market [suggest] that the segment will remain strong going into 2017.feedback

Angus Gluskie

There's no doubt that those arrests changed everyone's outlook for the sector. It's made it quite clearly more difficult to operate. It's not as easy as it previously looked.feedback

Theo Mass

I don't think there was really anyone out there who was enthusiastic about them going back in to Vegas and so pulling out is the smart thing to do. The market is not convinced Crown would make a difference there.feedback

Glen Hunter

You have created an entity out here with so much in the way of resources and power that I think we will no longer even have a proper functioning democracy.feedback

Emiliano Torres

I hope the award can bring my film closer to Asia and allow the continent's audience to watch it.feedback

Lu Kang

We have always asked that Chinese citizens leaving the borders respect the laws and rules of relevant countries, and not get involved in gambling or gamble themselves.feedback

Harry Blalock

I've also had Chinese investors just knock on my door and offer to buy my house, in cash.feedback

James Murren - MGM Resorts International

I think the controls the Chinese government has put into place are consistent with the kinds of controls they have put into place in the past ... I don't want to minimise its significance – it will reduce some gaming revenue. But the long-term play in Macau is an extremely positive story.feedback

James Murren - MGM Resorts International

We are all about job growth, and I can say that our industry is not only an important part of the U.S. economy, but a growing part in having a growing political voice in what's important to America.feedback

James Murren - MGM Resorts International

Our idea is to help everyone do well here. There is plenty of demand. Virginia doesn't have gaming. The District, as you know, they've never had a bad day in Washington DC economically. So, there's a lot of money around here and they are going to be coming over to Maryland to spend it.feedback

James Murren - MGM Resorts International

The Chinese government has done a really good job over many, many years trying to sustain growth for Macau. What they want to see is not a lot of knee-jerk growth or up and down growth, they want to see consistent improvement in tourism and revenue.feedback

Ric Spooner - CMC Markets

The Chinese government has been very consistent about this and continues to do things aimed at limiting the problems of corruption, and that suggests that the lower levels of demand seen in Macau are fairly permanent.feedback

Adam Trivison

We've seen a money cap before. People still have other ways to get money, whether through the purchase of goods and then transforming those goods into cash or by just having multiple cards.feedback

Rodrigo Duterte

On the condition that he lets go of original contract ... Just pay taxes, don't bribe anybody.feedback

Sophie Lin - S&P Global

The opening and ramping up of new casinos, better infrastructure connecting Macau with mainland China, and stabilizing regulations are the major factors that will fuel a rebound in the gaming industry.feedback

Harris Curtis

The ramp at Palace and cannibalization at Wynn Macau may be challenged for six (and probably 18) months. Wynn's lack of mass marketing prior to opening was a mistake in our view given fierce competitive dynamics in the market.feedback

Steve Wynn

What we have is an anomalous situation where all four sides of our property are currently…being enclosed by either barricades or construction blockades of one kind or another. It has tended to isolate our property on all four sides, and it's made access to the Palace temporarily highly encumbered.feedback

Matthew Maddox - Wynn Resorts

The ramp-up at Wynn Palace is clearly taking a little longer than we expected.feedback

Harry Curtis - Nomura Securities

Our checks on recent weekly volume suggest average daily GGR decelerated in the second-half of the month. Golden Week was quite strong this year; however, post-GW activity likely remained weak relative to supply growth.feedback

Harry Curtis - Nomura Securities

In the past, any lift in openings-driven Macau visitation was transitory in nature, typically lasting no more than two weeks. We believe that Parisian is having a stronger impact on driving visitation than is the Palace.feedback

Steven Wieczynski - Stifel, Nicolaus & Company

On the whole, we have somewhat mixed feelings on the October GGR print, and encourage investors to temper their enthusiasm accordingly.feedback

Steven Gallaway - Global Market Advisors

While I don't ever see Japan becoming the next Macau or Las Vegas, it could likely become the next Singapore. Both countries are politically and economically stable, have diverse levels of international tourism, and are geographically on opposite sides of Asia.feedback

Grant Govertsen

We believe that two IRs in Japan would quickly surpass the revenue story in Singapore, which in turn would make Japan the second largest gaming market in the world behind Macau.feedback

Anirban Lahiri

I was happy I won the toss and I wanted to go first. I think I rushed into that and I was trying to lay up on the second shot but the rough was a bit thick. I didn't even think of the hazard being there. I guess that was unfortunate to finish like that. I'm happy with the way I played the back nine but disappointed I finished second again.feedback

Pavit Tangkamolprasert

All the hard work paid off this week. I didn't think about winning because I don't even have Asian Tour status. I just wanted to play my best. This win will now give me a two-year exemption.feedback

Lui Che-woo - Galaxy Entertainment Group

My way of doing it is combining Chinese and Western elements and 'non-gaming,' meaning that we have less gaming-oriented facilities, but more for tourism, family gathering and culture.feedback

Chad Morganlander

Although the global backdrop for the overall economy is decelerating, these stocks have moved higher based off of the fact that they believe that China has stabilized. We don't believe that to be the case.feedback

Chad Morganlander

Going into 2017, we believe there will be GDP growth in China of roughly 2 percent. That will not bode well for the Macau industry as a whole.feedback

Steven Wieczynski - Stifel, Nicolaus & Company

We are encouraged by the second consecutive positive monthly [comparison]. That said, we continue to expect trends to remain choppy in the near term, particularly on the mass side of the business, as the market works to fully absorb recent and forthcoming supply additions.feedback

Richard Huang - Nomura Holdings

We are concerned with the sustainability and quality of the gross gaming revenue improvement.feedback

Harry Curtis - Nomura Securities

His departure should be an indication that the post-opening ramp of the Palace has been disappointing. We believe that Wynn Macau has retained most of its business but that the all-important mass segment at Palace has been slow to develop.feedback

Harry Curtis - Nomura Securities

Given the successful opening of Parisian last week, the sequential decline suggests that GGR strength after Wynn Palace opened was primarily driven by VIP revenue.feedback

Harry Curtis - Nomura Securities

Wynn has indicated that its business levels at Wynn Macau have not been affected by the (Aug. 22) opening of Wynn Palace. While positive for Wynn Macau, indications are that mass volumes at Palace are lighter than expected.feedback

Alex Bumazhny - Fitch Ratings

Macau relies on people bringing a lot of cash into the market, it also relies on junkets who operate by lending money to mainland residents ... there are also visa restrictions that can be used to further open or close the market.feedback

Jonathan Galaviz

I'm disappointed with the lack of robust direct air connectivity into Macau. I have been a critic of the lack of direct-nonstop air flights into Macau from other cities in Asia - there are some, but not enough.feedback

Jonathan Galaviz

I see The Parisian performing within expectations, i.e. along with what the current market is doing. I don't see the project driving substantial new visitation to Macau beyond a potential short-term rise of about 10 percent in gross tourist visitor numbers to Macau.feedback

Karen Tang - Deutsche Bank

We conclude that Macau is now at the start of a mass-led GGR (gross gaming revenue) recovery. Importantly, both base mass and premium mass are growing again.feedback

Praveen Choudhary - Morgan Stanley & Co. International

We believe it is much more difficult to ramp up a new property in a low growth environment, based on Studio City's and Galaxy Macau Phase 2's performances.feedback

Trasy Lou Walsh - Uber

We are committed to continuing to serve the riders and drivers of Macau. We continue to seek opportunities to work with the government on modern ride-sharing regulations that will give us the chance to keep serving the people of Macau.feedback

Harry Curtis - Nomura Securities

The $64k question is if the opening attracts new play or recycles existing customers to the incremental capacity. While we expect modest market growth (2-3 percent), it will not be sufficient to generate adequate returns on invested capital net of cannibalization.feedback

Jamie Soo - Daiwa

Macau is clearly operating in an environment of increasing costs and mounting competition amid a challenging macro environment. We view the Street's forecasts for incremental profitability due to new property openings this year to be far too optimistic.feedback

Harry Curtis - Nomura Securities

It is worth saying again – new supply opening into weak markets has never resulted in better-than-expected EBITDA. Perhaps 2017 will be an exception, but we doubt it since the negative operating leverage in these buildings is high.feedback

George Choi - Citi

We believe Wynn Palace is a potential game-changer for Wynn and will increase Wynn's hotel room count by 168 percent, from 1,010 to 2,710. We like the earnings improvement that the new Macau property will likely bring to Wynn.feedback

Richard Huang - Nomura Holdings

If they (Wynn) had known they definitely would not have spent USD4 billion, they probably would have spent something like USD1 billion.feedback

Richard Huang - Nomura Holdings

We expect SJM to be a substantial laggard in the next wave of Cotai-led growth.feedback

John DeCree - Union Gaming Group

We think the market is a little skittish heading into the [Wynn Palace] opening.feedback

Harry Curtis - Nomura Securities

A 150-table deficit reduces the earnings power of Wynn Macau by $85 million in 2017 and lowers fair value from $92 to $83.feedback

Harry Curtis - Nomura Securities

With two new Cotai resorts opening in [the third quarter] and one opening in [the first quarter of 2017], we think the Macau government is likely to strictly enforce the table growth goal, even though an obvious solution to Macau's [gross gaming revenue] slump would be to roll out more tables and attract more traffic.feedback

John DeCree - Union Gaming Group

It's a pretty significant driver of revenue to have as many as tables as you can, especially during peak periods.feedback

Jon Oh - CLSA

While we do not dispute management's observations that many of the tables to be shifted are underperforming, we cannot overlook the fact that Wynn Macau's footprint will be cut in half. We don't think Wynn Palace's economics change in this scenario, but remain concerned that the market is underestimating the risk of self-cannibalization.feedback

Joseph Greff - JPMorgan Chase & Co.

The stock looks fairly valued on our new/lower Macau operating estimates. This is a valuation call.feedback

Harry Curtis - Nomura Securities

These results heading into the Wynn Palace and (Sands') Parisian openings are disappointing and show stagnant demand.feedback

David Katz

According to our industry sources, based on gaming play for the first 10 days of July, gross gaming revenues in Macau for the month is estimated to be tracking up approximately 8.2 percent year-over-year.feedback

David Katz

These results are well ahead of the previous trends, which have been running at a rate of an 11 percent decline. The result is a solid positive data point for the related stocks and is supportive of our positive thesis on MGM and WYNN as well as LVS.feedback

Kenneth Fong - Credit Suisse Group

While investors could be tempted to buy Macau names into the seasonally stronger summer holiday, we continue to believe that it is too early to bottom fish.feedback

Teresa Li

The government's policy is to accord priority to local children. We will closely monitor the utilisation of services by (non-resident children) and may adjust the quota or withhold new case bookings.feedback

Marshall Hao

We are delighted and looking forward to see this dispute adjudicated on the merits for the first time. We have walked a long and difficult path to reach this goal.feedback

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