Macau’s casino profit estimate down 97% compared to prepandemic levels

October 20, 2021 Earnings & Filings Industry Updates

Macau casino operators expect to see Q3 profits slump to $62 million in earnings before interest tax, depreciation and amortization according to a Bloomberg survey of estimates from eight brokerages.

According to the publication, analysts forecast that the latest quarter would be the worst in the fiscal year so far, with the industry’s profit estimate plunging from $414 million. The industry profit estimate is down 97% from pre-pandemic levels in 2019. Last quarter, it was 83% lower than before Covid-19.

SJM Holdings Ltd will likely post negative Ebitda for a seventh consecutive quarter, and MGM China Holdings is expected to swing back to a loss after three quarters of profits.