Macquarie analysts have described market consensus of Macau gaming’s growth prospects for the year ahead as “too bearish”, arguing recent endorsements of the SAR by Beijing could help the industry outperform consensus in the near-term.
According to Macquarie’s US-based gaming and leisure team, such upside potential could emerge as early as next week’s Chinese New Year Golden Week holiday with the bank also positive on all three US-based Macau operators in Wynn, Las Vegas Sands (LVS) and MGM.
“China values Macau and continues to endorse the destination,” the analysts explained, pointing to the 2023 concession renewals and a raft of positive moves in recent months around visas.
