Global Gaming and Casinos Industry Specialist, Casino Business Review LLC

Howard J Klein

I am a 25+ year c-level executive of the casino industry in operations, marketing, international development and strategic planning. Currently, a consultant specializing in the casino space. Industry expert contributor and publisher of a subscription letter called "The House Edge". Extensive experience in marketing and development in the Asian gaming market while a senior executive at Caesars, Ballys Grand and Trump Taj Mahal.
Part of senior executive teams that valued acquisitions and mergers with companies in the casino, hotel, d entertainment rant  and restaurant space.

Global Gaming and Casinos Industry Specialist

Thematic (Sector/Industry)

China Consumer discretionary / Thematic (Sector/Industry)

<ul>
<li>Our profile of VIP gamblers indicate greater resiliency to slowing macro economics due to the nature of their wealth sources and motivations. We continue to believe Macau stocks are cheap.</li>
<li>Our overall market forecast for 2019 remains +8% y/y. It includes a 4% upside in VIP.</li>
<li>VIP gamblers behavior patterns lean to more influence from personal, rather than economic factors such as macro headwinds.</li>
</ul>


Our profile of VIP gamblers indicate greater resiliency to slowing macro economics due to the nature of their wealth sources and motivations. We continue to believe Macau stocks are cheap.
Our overall market forecast for 2019 remains +8% y/y. It includes a 4% upside in VIP.
VIP gamblers behavior patterns lean to more influence from personal, rather than economic factors such as macro headwinds.


China Headwinds May Have Less Impact on Macau VIP Revenue than Forecasted