The good news for Macau investors continued On Wednesday as UBS released a note upgrading its outlook for the battered Chinese gaming hub. According to UBS analyst Anthony Wong, the firm is now shifting its outlook on Macau from cautious to constructive.

Visitation Restrictions Eased

Following this week’s announcement that June gross gaming revenue (GGR) in Macau came in slightly above expectations, the Chinese government announced that it would be easing visitation restrictions to Macau for mainland China residents. The fear that the government would instead be tightening visitation restrictions had been weighing on the share prices of the Macau casino operators.

Shares of Las Vegas Sands Corp. LVS 1.24%, MGM Resorts International MGM 1.51%, Wynn Resorts Limited WYNN 0.33% and Melco Crown Entertainment Ltd MPEL 3.2% are all trading sharply higher this week following the news.

Downside Risk Limited

Wong believes…

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