Annual Growth In Revenues From Games In Macau Can End – Analysts
According to analysts with wall street, after three years of a sharp decline, the second annual increase in income from the gembling sector in macau in 2018 may be short.
Anxiety about the ongoing us trade war with china and the slowdown in the development of the chinese economy can only lead to a minor growth of income from gambling in 2019.
Despite the fact that decepte was the 29th month in a row when igor’s institutions demonstrated the growth of revenues, the maket is still far from the top of $ 45.1 billion, achieved in 2013.
Assumptions about slowing the growth of income from games affect the prices of las vegas sands shares, wynn resorts and mgm resorts international – largest casino operators in the usa.
Prices for shares of companies fell at the end of 2018. Shares las vegas sands finished a year with a decrease of 22%, mgm – by 26%, and wynn – by 44%.
Gambling analyst stifel steve vichinski in his note for investors said that las vegas sands, which has the greatest among other us market operators in macau, will will if the mass segment will preserve its influence.
«Although we cannot fully declare that las vegas sands shares have reached the lower mark, we believe that the current levels are an entry point for patient investors focused on the long term», – noted the expert.
Las vegas sands continues to invest in their facilities in macau. In october, sands president rob goldstein said that over the next few years the company will spend $ 2 billion on expanding and reconstructing its facilities, including the transformation of sands cotai central in londoner macau.
Wishinski also noted that the united states and china continue to achieve progress in trade negotiations, and the american delegation mustiation in beijing at the end of this month to meet. Las vegas sands, he said, benefits from any positive news.
«Although current trade negotiations between global geopolitical picture can work against the rise in prices for stocks in the near future, it does not charge our enthusiasm in the future perspectives of the company», – he said.
Both witchpins and an analyst of the union gaming group grant goranten, noticing it the growth of macau attendance is not reflected in the casino revenue. In addition, experts believe that revenues from games in macau in 2019 will increase by 2-6%, and both indicate that steady growth in the mass sector will be key this year.
Previously, it became known that the gross income from macau gambling in 2018 was mop 302.85 billion, which is 14% higher than in 2017.