Asia HY Monthly – Macau Gaming Update (September 2019)
During September, Asian HY investor focus shifted back to the ongoing Sino-US trade war, and away from problems in Argentina and Turkey. Late in...
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Asia Gaming: Could Delay in Grand Lisboa Palace Opening Be a Positive for SJM Stock?
Ms. Daisy Ho shakes off analyst concerns that SJM's new flagship property faces opening delays to sometime in 2020. Macau's capacity to absorb a...
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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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TRADE IDEA - Melco (200 HK) Stub: Lose a Little Sleep in Macau
Visitors to Macao will notice the gaudy designs of new properties like Studio City and the City of Dreams owned by Melco. Few will know that the...
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Macau Gaming - Historical Correlation B/T Gaming GGR and M1
In previous credit cycles managed by Beijing, VIP and Mass GGR demonstrated a close correlation to M1 albeit with delays. Change in M1 typically...
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