Catalysts to watch for the Macau casino sector even as traffic lags [Seeking Alpha]
WYNN MACAU LTD UNSP/ADR (WYNMY)
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Source: Seeking Alpha
Catalysts to watch for the Macau casino sector even as traffic lagsSep. 13, 2022 7:57 AM ETMelco Resorts & Entertainment Limited (MLCO)LVSMGMWYNNWYNMYSCHYYSJMHFGXYEFWYNMFMCHVFMCHVYSCHYFSJMHYMSCBy:Clark SchultzSA News EditorSean3810The story out of Macau is much the same for casinos struggling to generate significant traffic due to COVID restrictions. Macau daily revenue for the first eight days of September was 94M patacas a day, per industry estimates. Jefferies said theslight improvement from August was mainly from domestic travel with strict quarantine rules still in place for international visitors."We expect this trend to continue into the upcoming Golden Week holiday in October, given recent stricter travel policies, and we expect Macau non-holiday GGR to remain less than 100M patacas a day.This year will be the third year in a row that Golden Week in October is a disappointment for Macau casinos looking to return to the strong revenue tallies seen for the extended holiday weeke
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