U.S. Equity Strategy: Waiting on Small-Caps
This market continues to be dominated by signals that suggest we are in the early stages of a new bull phase, which we discuss below. At the same...
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U.S. Equities: Mixed Signals Punctuate Muted Outlook
While the S&P 500 has hit marginal new highs, price action of the S&P 500 and the price and RS of several Sectors/subsectors is similar to...
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Japan Casinos: The Race for Osaka Heats Up; Here Are the Odds for the Favorites and Why
Odds favor top three: Las Vegas Sands, MGM and Melco. Our best bet: LVS. Though winner won't likely open before 2025, expect a spike in the stock...
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Macau Gaming: Strong Labor Day Holiday GGR
Our checks indicate that during the first 5 days in May, Macau GGR reached ~1 billion MOP, up by HDD (high-double-digits) year-over-year. This was...
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Macau’s Transforming from VIP Centric to Mass Gaming Driven by Rising Mass Bet Budget
We are turning positive on Macau gaming from previously neutral due to 1) the completion of a shift to a mass-led growth, thanks to rising average...
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