Casino investors are divided over the regional impact of the corruption crackdown in China, with some hoping to pick up business from struggling Macau while many fear an industry slowdown across Asia.
After a decade of breakneck casino expansion, Macau saw its first annual fall in gaming revenue last year as President Xi Jinping’s anti-corruption drive scared off many of the Chinese high rollers who had been pumping up gaming profits in the tiny, former Portuguese territory. Pressure on gaming groups in Macau will grow as they open more than $20bn of long-planned casino resorts over the next two years, starting with the launch of the $3.2bn Galaxy extension yesterday.
Analysts at Morgan Stanley expect gross gaming revenue in Macau to fall
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