Credit Suisse analyst Kenneth Wong warned Macau casino operator investors not to let the Chinese economic weakness blind them to recent data showing improvement in the Macau gaming business. According to Wong, there are several trends now indicating that a Macau turnaround has already begun.

First, Wong believes that three consecutive months of revenue improvement in Macau is enough to call it a trend. In addition, the latest data indicates that the hardest hit VIP segment has experienced a volume pickup since mid-December, including a particularly impressive showing during Chinese New Year. “Junket sources we spoke to also noted improving repayment cycle and return of high-end players,” Wong added.

He also pointed out…

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