Last year we said Macau was the compelling investment case. It proved not to be so! Beijing’s anti-corruption policy has caused VIPs to stay away for fear of being spotted at the tables and thus investigated thereafter. We predicted double digit growth of 16%; it is likely to be zero growth.
Yet the mass market is up 15% and we have the Hong Kong-Zhuhai-Macau Bridge in two years. Is this a buying opportunity for investors? I think so. The smoking ban and corruption crackdown are all factored into the price.
2015 Prediction – Gaming stocks will finish the year higher than today in Macau. Galaxy: HK$ 47; Sands China HK$ 40
Seen by many observers as the pathfinder state in Asia. Will others copy with the hard line legislation that Singapore has introduced over e-gaming?
2015 Prediction – others governments will not follow Singapore’s lead yet, they will wait and see. Governments are inclined to be cautious.