Investors may be overly optimistic about the prospects for Macau’s gaming stocks given the snail’s pace of the recovery and slow vaccine rollout across the region, according to analysts from Union Gaming.
A full recovery in Macau could be delayed until 2023 as the slow rollout of vaccines prevents a significant easing of travel restrictions, Union Gaming writes.
Macau's gross gambling revenue continued to show a small sequential improvement in the third week of April, with visitation hitting a 15-month high, according to Bernstein Research.
Sands China on Friday announced the establishment of an Environmental, Social, and Governance Committee.
Macau Labor Affairs Bureau (DSAL) deputy director believes there will be fewer blue-card holders in Macau if the unemployment rate continues to rise. The last time unemployment was this high was around 2009-2011, shortly after the global financial crisis. Chan added that some industries will suffer more than others.
Macau's narrow economic base and its high concentration of tourists from China restrain the city's credit rating and have contributed to historically high levels of gross domestic product volatility, Fitch Ratings says.