GGRAsia – Many listed Asia-casino stocks had downward trend in 2024

Listed-share prices for many casino businesses in Asia – including the majority of Macau names – registered declines during 2024. That is based on GGRAsia’s comparison of bourse information about the stocks’ closing prices on the last trading day respectively of the calendar years 2024 and 2023.

Four of Macau’s six casino names saw a year-on-year retreat in stock value in 2024. They are the Hong Kong-listed: Galaxy Entertainment Group Ltd; Sands China Ltd; Wynn Macau Ltd; and Melco International Development Ltd, parent of Melco Resorts & Entertainment Ltd.

Galaxy Entertainment ended trading-year 2024 at HKD33.00 (US$4.24), down 24.57 percent compared to the HKD43.75 closing price on the last trading day in 2023.

Melco International Development concluded 2024 at HKD4.46, a 18.46-percent dip from the HKD5.47 recorded at trading year-end 2023.

Its Nasdaq-listed Melco Resorts unit showed a proportionately greater year-on-year decline: by 34.72 percent, to US$5.79 per American depositary share – equal to three individual stock units – from US$8.87 at end-2023. Melco Resorts runs Macau casino resorts City of Dreams, Studio City and Altira Macau. It also operates casinos in the Philippine capital Manila, and in the Republic of Cyprus.

Macau operator Sands China’s shares ended 2024 at HKD20.90 apiece, 8.53 percent lower than the HKD22.85 recorded on the last trading day of 2023. Wynn Macau Ltd was 16.17 percent down year-on-year, at HKD5.39, from HKD6.43.

Macau’s 2024 gainers year-on-year were MGM China Holdings Ltd and SJM Holdings Ltd. For MGM China, the improvement was marginal: 0.30 percent, to HKD9.94, from HKD9.91. SJM Holdings rose 8.91 percent, to HKD2.69, from HKD2.47.

Downward path in rest of Asia

Philippines-listed Bloomberry Resorts Corp – which runs Solaire Resort & Casino in the country’s capital Manila, and also Solaire North in nearby Quezon City – saw its shares close at PHP4.58 (US$0.08) as of December 27, the last trading day of the local bourse. That value was down 53.46 percent versus PHP9.84 on the last trading day of 2023.

In Singapore, the locally-listed shares of Genting Singapore Ltd – which runs Resorts World Sentosa – ended 2024 at nearly SGD0.77 (US$0.56) apiece, a decline of 23.00 percent when compared to the price of SGD1.00 as of the last trading day of 2023.

Sister firm Genting Malaysia Bhd also recorded an annual share price decrease for last year. Its stocks – listed on Bursa Malaysia – were worth MYR2.23 (US$0.50) at the end of 2024, down 17.10 percent in annual terms from end-2023′s MYR2.69. Besides running Resorts World Genting, Malaysia’s only casino resort, the firm operates casinos in the United States, the Bahamas and the United Kingdom.

NagaCorp Ltd – the firm behind Cambodia’s largest casino, NagaWorld in the capital Phnom Penh – posted an annual decline of 5.21 percent in share price for 2024. Its stock, listed in the Hong Kong Stock Exchange, closed 2024 trading at HKD2.91 per unit, from HKD3.07 apiece at the end of 2023.

Two listed South Korea operators of foreigner-only casinos also respectively showed annual price retreats. Grand Korea Leisure Co Ltd ended 2024 with its stock down 18.16 percent year-on-year on the Korea Exchange, at KRW11,040 (US$7.58) apiece, from KRW13,490 at year-end 2023.

The stock of market rival Paradise Co Ltd ended the year at KRW9,600 apiece, down 27.93 percent on the KRW13,320 at the close of the 2023 trading year.

Kangwon Land Inc – operator of the only casino resort in South Korea where the country’s nationals are allowed to gamble – ended trading-year 2024 with its shares valued at KRW15,970 apiece. That was down 0.19 percent versus KRW16,000 on the last trading day in 2023.