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New resorts to propel Cotai divergence from Macau peninsula


The rising and waning tides that propel Macau's six casino operators in close harmony should experience more cross currents in 2016, Bloomberg Intelligence analysts wrote in a note.

A wave of resort openings should benefit revenue and earnings of the first movers in this round of expansion - Galaxy, Melco Crown and Wynn Macau, said analysts Tim Craighead and Margaret Huang.

“New mass market attractions may benefit their resorts and those clustered nearby. Cotai Strip properties are likely to steal market share from casinos on Macau's old peninsula, such as those run by SJM and MGM China.”

Following Wynn Resorts saying that its new Cotai resort Wynn Palace is scheduled to open June 25 -- three months later than planned -  Craighead and Huang said the delay postpones Wynn Macau's ability to expand its mass gambling presence, “but puts Wynn Palace in operation well before the October 2016 Golden Week holiday.”

 

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