Credit Suisse recommends reducing allocation to Macau gaming stocks, as stock prices have risen.
Attendants conduct play with the visitors over a Black Jack gaming table during the Global Gaming Expo Asia in Macau.Revenue from high rollers in Macau has been declining, and it's a sign the sector may be impacted by China's slowing economy.
Overall tourist numbers have held up, but declining revenues signal a drop in gross gambling revenues.Declining activity among high rollers and weaker than expected gaming numbers in Macau are further evidence that the slowdown in China is having an impact on the gambling capital of the world. In a note dated March 7, VIP volume was estimated by Credit Suisse to be down nearly 10% year-over-year in the fourth quarter while volumes for non-VIP gamers rose just 1%. Tourist numbers to Macau have held up, but it appears that people are gambling less.
The bank says now is the time to reduce exposure to the Macau gaming sector. Its coverage group includes Sands China, Galaxy, MGM China and Wynn Macau. Other analysts have also cited risks to the space."Despite November revenue better than expected...our lower estimates are driven by weaker VIP and premium demand amid heightened risk to macroeconomic outlook in China,"
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Credit Suisse on stocks: 'We love China at the moment'Credit Suisse sees further upside for the Chinese markets, even after shares on the mainland made their largest monthly gain in almost four years in February.
Baca lebih lajut »
Another Kroger unit to stop accepting Visa credit cards due to high feesU.S. supermarket chain Kroger Co on Friday said its Smith's Food and Drug S...
Baca lebih lajut »
U.S. trade gap with China reaches all-time high under TrumpThe U.S. trade deficit in goods with China set a new record, despite Trump's efforts to rein in what the administration views as Beijing's trade transgressions
Baca lebih lajut »
U.S. trade deficit just hit a 10-year high due to record shortfall with ChinaThe trade deficit with China grew to a record high in 2018, increasing 11.6 percent to $419.2 billion.
Baca lebih lajut »
The high-flying female executive who just left Bank of America is set to join Credit Suisse in LondonLucy Baldwin is set to join Credit Suisse in London in a leadership role in equity sales. Baldwin, who left BofA last week, became a managing director at only 28.
Baca lebih lajut »
No head for heights: China defends Tibet travel restrictionsForeigners can't handle Tibet's high altitude so China needs to restri...
Baca lebih lajut »
Pompeo: US to make sure China can't blockade South China SeaMANILA, Philippines (AP) — U.S. Secretary of State Mike Pompeo says the United States is committed to ensuring the South China Sea remains open to all kinds of navigation and that 'China does not...
Baca lebih lajut »
Auto loan delinquencies rise as the cost of monthly payments hit record highOverall, less than 1 percent of all auto loans are more than two months behind, well below the historical average. Still, the uptick adds to concerns Americans may be showing signs of struggling financially.
Baca lebih lajut »
Pedestrian deaths hit a 28-year high, and big vehicles and smartphones are to blameRoads throughout the U.S. have become deadlier for pedestrians according to a new report.
Baca lebih lajut »
What it’s like to go to school when dozens have been killed nearbyIn neighborhoods where there are high rates of homicide near public high schools, the impact of close-up violence can be devastating and costly for students, schools and communities.
Baca lebih lajut »