Macau casino construction delayed due to virus

A number of casino expansion projects in Macau have been halted or slowed due to the outbreak of the coronavirus, according to Morningstar analyst Chelsea Tam. 

Among the delayed projects include Galaxy Macau phases 3 and 4, the Londoner, the Grand Lisboa Palace, and Studio City’s second phase, said Tam. 

Macau casino stocks have taken a beating since the outbreak of the virus, but while analysts remain cautious about casino stocks in the short term and price volatility, they remain optimistic of a sharp bounce back once the outbreak is under control.