a calamity for global investors<\/a> as hundreds of billions of market value have been wiped off companies, such as Alibaba, Didi, Meituan, and Tencent. Earlier this week, Beijing called an emergency meeting with major international asset managers and investment banks, looking to assuage fears about the regulatory clampdown. While Macau concessionaires aren’t targets of the probe, Morgan Stanley points to something of a mixed near-term outlook as a result of that overhang.<\/p>\n<\/div>\n\u201cWe believe the recent launch of China\u2019s \u2018common prosperity\u2019 plan is not supportive of gaming in Macau, but a hardened stance on gambling (especially overseas) is not new either,\u201d said analysts at the bank.<\/p>\n
Prevailing wisdom is that Beijing isn’t looking to end land-based gaming in Macau, but rather to eradicate online gaming, which is forbidden in the world’s second-largest economy.<\/p>\n
Renewal Outlook<\/h2>\n
All six concessionaires are supposed to be up for license renewal in 2022. But that process is being delayed because of the pandemic. Morgan Stanley says it’s likely Macau will extend all gaming licenses for another three years before a more conventional retendering process commences in 2025.<\/p>\n
Some experts estimate that without renewal of the individual visit scheme (IVS) visa and with the current travel protocols, up to 47 percent of prior Macau visitation is out of the picture for the time being.<\/strong><\/p>\nIn the meantime, the special administrative region (SAR) appears to loathe to consider<\/a> another casino shutdown to deal with the pandemic. But that also implies travel restrictions are likely to remain in place.<\/p>\n","protected":false},"excerpt":{"rendered":"Shares of Macau concessionaires continue sagging. But Morgan Stanley is bullish on the long-term outlook for the world’s largest casino center. That’s even as some investors fret about regulatory risk from Beijing. Recent gross gaming revenue (GGR) data suggests that despite an increase in COVID-19 cases in the neighboring Guangdong province and the persistent lack […]<\/p>\n","protected":false},"author":46,"featured_media":181457,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Macau Casino Stocks Can Bounce Back, Says Morgan Stanley<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n