Analysis: Labor costs a concern in Macau

• Macquarie cuts earnings estimates across the Macau gaming sector.
• The global investment bank warns on operating leverage slipping for the group as labor cost inflation kicks in around new openings.
• Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.