Macau Gaming Stocks Not Incorporating Cyclicality and Policy Risks; Shares Overvalued
After an average 82% run-up in share price since the fourth quarter of 2016 for the six narrow-moat Macau gaming names we cover, we think the Macau...
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Macau Update: Strong Mass Visitations During Holiday; VIP Rolling Re-Accelerated Post CNY
Macau gaming benefits from robust Chinese consumer and business sentiment, and wealth accumulation especially among the rich and beyond. Using the...
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Macau Junkets Deploying Liquidity in Cambodia
Cambodia’s Gaming Boom on Chinese VIPsLarge junket operators are looking beyond Macau to deploy their liquidity, tracking the Chinese business...
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2017 Macau Supercharged the US Traded Casino Sector but Their Hang Seng Brethren Remain Cheap
Projected Macau tourist footfall and GGR prospects are bullish across the board. In our view, consensus 2018 Macau GGR upside is not fully priced...
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Macau Gaming: Soaring GGR Driven by Inflow of Junket Liquidity
During the 3rd week in January, the estimated average daily GGR soared to ~857 mm MOP, up 5% week-over-week and 62% year-on-year. The jump in the...
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