Morgan Stanley: Macau’s gaming market might generate $24bn in 2021

imagesource: New Indian Express
imagesource: New Indian Express

Morgan Stanley’s analysts have made predictions about the gross revenue generation by Macau’s gaming market.

The analysts have predicted that the market might generate $24bn in 2021 as gaming revenue. This is 65% of 2019 GGR levels. The earlier consensus by the analysts was 70%, but it was revised as 65%.

As per Gambling Insider, Morgan Stanley analysts opined that, “one third of Asian gaming revenue comes from outside of Macau, part of which is contributed by Chinese consumers and could come back to Macau, with recently unveiled criminal law also making it more difficult for overseas countries to solicit Chinese consumers.”

The analysts added: “Stocks also tend to outperform 6-12 months before the opening of mega casino openings. We expect 2021 to be an important year in which both of these activities drive outperformance for Macau stocks.”