In a new report, Credit Suisse analyst Joel Simkins explained why he believes 2016 will be another volatile year for Macau gaming stocks. According to Simkins, there are more negatives than positives on the way for Macau in 2016.
For now, Simkins believes that supply is not driving demand in Macau, and it is too early to call a bottom in gross gaming revenue (GGR). Some analysts feel that the government’s -13 percent GGR projections for 2016 are overly conservative, but Credit Suisse concedes that they are likely the accurate. Macau weakness reflects the impact of the corruption crackdown, the weak Chinese stock market, slowing GDP growth and the disappearance of VIP gamblers.
Impact Of Project Delays
Wynn Resorts, Limited WYNN 5.35% recently delayed…
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