Positive fourth quarter for Macau casinos
“We expect MGM China, Sands China and Galaxy to deliver double-digit growth in EBITDA on a quarter-on-quarter basis in the upcoming fourth quarter results,” Choudhary wrote. He expects Sands China to report a fourth quarter property EBITDA of us$ 443 million, excluding ferry operations, up by 14 percent quarter-on-quarter.
Wynn Macau is expected to post us$ 316 million (up 7 %) while MGM China Holdings is to have the best property EBITDA quarter-on-quarter growth rate, at 29 %, reaching us$ 186.7 million. Melco Crown Entertainment is expected to reach a company EBITDA of us$ 224 million, a drop of 7 % over the previous quarter.
As for SJM Holdings, Morgan Stanley is expecting it to report a us$ 228 million EBITDA for the period between October and December 2011, up by 7 % quarter-on-quarter. The estimation for Galaxy Entertainment Group is us$ 1.97 billion, an increase of 10 %.
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