The agency added that an estimated $440 million in daily utilization for 12 months would mean Studio City would add about 1.6% to Macau's annual revenue with current market utilization. Memos by analysts Carlo Santarelli and Danny Valloy meant Studio City was underperforming the Macau government's allocation of game tables and hotel capacity.

"Considering this, we note that 200 table allocations add 3% to market table capacity and 1600 hotel rooms add about 5% to hotel capacity," the Deutsche Bank team said.

Studio City allocated 200 new tables to the market at launch, with an additional 50 available from January.  파워볼사이트

"According to weekly ADR [Macao's average daily earnings] implied in the last week of October, the opening of Studio City does not seem to drive real growth demand, but it seems too early to draw conclusions based on a five-day data set," Daiwa Securities Group analysts Jamie Su and Adrian Chan said in a note on Wednesday

Melco Crown Entertainment, which owns a 60% stake in Studio City, is due to report third-quarter earnings on Thursday evening Macau time. The company's co-chairman and chief executive, Lawrence Hoya-urung, said it was a "business decision" not to offer VIP gambling at the resort at this stage.

Daiwa said in an Oct. 27 memo that Studio City has a "VIP Zone located on the second floor of the casino."

"We expect investors to focus on early signs of demand for new properties, but it's too early to gain meaningful insight," Union Gaming Research LLC analysts Christopher Jones and John DeCree said in a note to Studio City on Wednesday