Sands Macau rallies with shift from VIP Junkets to mass market focus
Their shares jumped 7.9% on the Hong Kong exchange after Sands China Ltd reported beating second-quarter profit estimates. Sheldon Adelson, president of Sands, also claims that the mass market is currently outperforming the number of VIP markets.
With Macau's VIP junket business in sharp decline in the region, Bloomberg's report that the region's largest convention venue, with 9,000 hotel rooms and the largest number of retail and restaurant options, is well-placed to offer competitiveness to the region's emerging mass market was good news.
Las Vegas Sands President Robert Goldstein said, "What's happening now is the mass market is emerging. And again, the mass market demands a lot of goods…. That's our background." Deutsche Bank AG analyst Karen Tang acknowledged Sand China's heightened focus to appeal to mass market tourists, adding that Sand China has "greatly exceeded consensus" and that "the second quarter margin resilience is truly remarkable." 슬롯
Many financial analysts are particularly optimistic because mainland China is easing restrictions on passport holders, allowing travelers to visit more often and stay longer.
With trends looking positive and travel becoming easier in the future, Adelson has every reason to be optimistic about Parrition Macau, the latest resort opening next year.
With Macau's VIP junket business in sharp decline in the region, Bloomberg's report that the region's largest convention venue, with 9,000 hotel rooms and the largest number of retail and restaurant options, is well-placed to offer competitiveness to the region's emerging mass market was good news.
Las Vegas Sands President Robert Goldstein said, "What's happening now is the mass market is emerging. And again, the mass market demands a lot of goods…. That's our background." Deutsche Bank AG analyst Karen Tang acknowledged Sand China's heightened focus to appeal to mass market tourists, adding that Sand China has "greatly exceeded consensus" and that "the second quarter margin resilience is truly remarkable." 슬롯
Many financial analysts are particularly optimistic because mainland China is easing restrictions on passport holders, allowing travelers to visit more often and stay longer.
With trends looking positive and travel becoming easier in the future, Adelson has every reason to be optimistic about Parrition Macau, the latest resort opening next year.
2023-10-27 17:16
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