The impact of UK leaving the European Commission is likely to be minimal for Macau’s gaming industry, given its reliance on domestic Chinese demand, said Morgan Stanley in a note on Friday.
The brokerage said Macau casino operators have little exposure to EUR / GBP, thus will not be impacted much by the change in currency value.
While there is a chance that Chinese tourists may travel to Europe given the weaker Euro in order to buy cheap luxury products, but they are not likely to find gambling alternatives, added the brokerage.
If the USD strengthens against RMB however, the impact on spending per capita could negatively impact on Macau however, said the analysts.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264