SJMHY - Green shoots seen in Macau even as weak economic factors hold back a quick recovery

CFRA turns incrementally more positive on the Macau sector on early signs that it is gradually rebounding. Analyst Aaron Ho notes the domestic tourism market in China is gaining traction after the effective containment of COVID-19 has given consumers the confidence to return to leisure activities. Underpinning the soft return of traffic, he says Macau is a low-risk area with zero deaths from a total of only 46 COVID cases and China's provinces resumed acceptance of travel permit services to Macau in July and August for China residents with business,employment, or education purposes. A V-shaped recovery is not anticipated for Macau as Ho expects real tourist spending to be lackluster and appetite for gambling to weaken due to an impaired economy in China and stricter control on the outflow of the Chinese Yuan through Macau. On Sands China (LVS): "We think the gradual shift in traffic from VIPs to mass

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Green shoots seen in Macau even as weak economic factors hold back a quick recovery