There’s been no obvious slowdown in casino traffic yet due to the Hong Kong political protests, DS Kim of JP Morgan said.
He forecasts the protests could hurt gaming revenue by mid-single digits. Only about 12 to 13 per cent of mainland Chinese customers, which account for about 85 per cent of Macau’s gaming revenue, travel to Macau through Hong Kong, he said.
A slowdown in visitation could be masked by the summer holiday, Kim noted. Even with the near-term volatility, gaming stocks remain too cheap to ignore, he said. Galaxy Entertainment is his top pick.
Source: Fantini's Gaming Report
