Hong Kong Casino Stocks Slide As Macau Clamps Down On Covid Spread With Fresh Lockdown
ForbesMAR 28 2022
Though the easing of COVID restrictions is undoubtedly a hopeful sign, an increase in tourism won't mean much to American casinos if they can't renew their licenses. If China pursues a protectionist agenda and blocks US companies, it could be a sign of market decline for many US investors in the region.
With JPMorgan and Citigroup now bullish on American casinos like Las Vegas Sands subsidiary Sands China, the only response to this news should be optimistic. While licensing agreements are, of course, unknown right now, the fact that China is re-opening its borders to Macau should be what investors are focused on.