SJMHF - Macau recovery timeline pushed back by Union Gaming

Union Gaming turns cautious on the Macau sector after failing to see any signs of a recovery. "Currently, there's too much friction for a large scale recovery in visitation. Although visas are available, the online/automated process is not. Travelers need to apply in person and processing times can take up to two weeks. On top of that, travelers to Macau still need to present a current (7 days) negative nucleic acid test. This makes last minute, spontaneous, or frequent trips impractical. Macau authorities are considering extending the validity of a negative test to 14 days, which should be moderately helpful," writes analyst John DeCree DeCree also notes that liquidity and VIP junket business remain impaired for Macau operators. There is also gaming concession expiration risk to consider even if the renewal deadline is pushed back a year. Union Gaming moves to a Hold rating from Buy on Wynn Resorts ([[WYNN]]

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Macau recovery timeline pushed back by Union Gaming