Macau’s three US operators could see their 10-year concessions terminated or not renewed when they expire in 2032 under a “worst-case scenario”, while more plausible would be pressure to sell their Macau casino stakes should US-Sino relations further deteriorate, according to ratings agency Fitch.
While both outcomes are deemed highly unlikely, the agency outlined its concerns over recent tensions related to the tariff war which could result in retaliatory measures against US gaming companies in Macau – namely Las Vegas Sands, MGM Resorts and Wynn Resorts.
“China has targeted foreign companies following diplomatic disputes in the past, and these actions typically involved increased regulatory scrutiny rather than outright bans,” Fitch said. “Consumer boycotts are also possible, but they tend to be short-lived.
