SJM - Wynn MGM among potential winners from regulatory incentives in Macau

The latest signals from Macau’s government should alleviate some investor concerns, according to Citi. The special administrative region’s government is showing itself to be “pragmatic and sensible” by tabling some adverse regulations on casino ownership and revising tax protocols, the bank said on Monday. “The potential gaming tax cut is good news for all concessionaires,” Citi analyst George Choi wrote to clients. “Because the extent of the tax cut will depend on how much [gross gaming revenue] the concessionaires can generate from the foreign players they bring in, we believe Sands China (OTCPK:SCHYY) and [Melco Resorts & Entertainment] (MLCO) will likely enjoy the tax cut more than their peers initially, given the cross-property marketing opportunities with their sister properties in the region.” The bank bases its bullish outlook on comments made by Chan Chak Mo, the president of the Standing Committee of Macau’s Legislative Assembly. Chan told reporters on Friday

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Wynn, MGM among potential winners from regulatory incentives in Macau