SJMHY - Macau casino stocks are on watch with Golden Week forecast to disappoint
Jefferies warns on more troubles for the Macau sector in the near term as COVID restrictions remain ahead of a key holiday period. Analyst David Katz and team believe the upcoming Golden Week holidays is likely to disappoint similar to the Chinese New Year due to the potential for new travel restrictions given 28 new local confirmed cases on September 19 in Fujian province. The firm notes this means 365 local confirmed cases in Fujian since the first case was confirmed on September 10. On the regulatory front, the sector could also see some share price volatility with public consultations sessions set for gaming operators and gaming promoters in Macau over gaming law changes. Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Wynn Resorts (NASDAQ:WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), Las Vegas Sands (NYSE:LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY). MGM Resorts (NYSE:MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Melco Resorts & Entertainment
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Macau casino stocks are on watch with Golden Week forecast to disappoint