NEW YORK (AP) -- Macau's strong gross gaming revenue growth will likely outweigh concerns about China's tightening credit efforts, an analyst said Tuesday.
Gabriel Chan of Credit Suisse said in a client note that the Chinese government will only be able to adopt limited measures to slow Macau's gaming growth, which should lead to "substantial earnings upgrades" across the sector.
Macau is the only place in China where gambling is legal.
Chan boosted his investment rating on Melco Crown Entertainment Ltd. "Outperform" from "Neutral," saying the strong market growth has consolidated the company's recovery and lowered its refinancing risk.
Chan also boosted Sands China, owned by Las Vegas Sands Corp., to "Neutral" from "Underperform" on his upward earnings forecast revision. The analyst kept Wynn Macau's "Underperform" rating, saying Encore's late April opening could disappoint.
finance.yahoo.com/news/...yst-apf-1600111783.html?x=0&.v=1
Gabriel Chan of Credit Suisse said in a client note that the Chinese government will only be able to adopt limited measures to slow Macau's gaming growth, which should lead to "substantial earnings upgrades" across the sector.
Macau is the only place in China where gambling is legal.
Chan boosted his investment rating on Melco Crown Entertainment Ltd. "Outperform" from "Neutral," saying the strong market growth has consolidated the company's recovery and lowered its refinancing risk.
Chan also boosted Sands China, owned by Las Vegas Sands Corp., to "Neutral" from "Underperform" on his upward earnings forecast revision. The analyst kept Wynn Macau's "Underperform" rating, saying Encore's late April opening could disappoint.
finance.yahoo.com/news/...yst-apf-1600111783.html?x=0&.v=1