A new report from Bernstein indicates that Las Vegas Sands is likely to dominate the Macau market in the next five years.
Macau.- The casino industry in Asia is on the rise, and with Macau being the most prominent market in the world, companies are focusing on improving their operations. According to a new report from Bernstein, Las Vegas Sands is likely to dominate the Macau market in the next five years.
“Sands is and should continue to be the largest operator in Mass market and non-gaming over the next 5+ years. The company’s US$2.2bn redevelopments and expansion of its Macau properties provide a near-term catalyst (2020-2021) to sustain the growth of profitability and cash flows and increase Sands’ competitiveness,” said the brokerage, according to AGBrief.
The Bernstein analysts also said that Marina Bay in Singapore is the most profitable casino in the world and that Las Vegas Sands is likely to dominate that market as well in the next five years.
“Between Sands China and LVS, depending on investment appetite, Sands China benefits from higher projected growth trajectory in the medium term and greater exposure to macro China economy,” it said. “On the other hand, LVS is preferred if more weight is given to stability, diversification and long-term optionality from further developments (Singapore, Japan) and share trading liquidity.”