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Macau visitor cap from Mainland China proposed

  • The number of visitors to Macau from Mainland China is set to be capped at 21M per year, according to a proposal in front of government officials.
  • Total Macau visitors were 31M last year with the Chinese New Year holiday providing the biggest traffic spike from the Mainland.
  • Casino operators in the region have said they expect to grow the rate of international tourists with Mainland growth possibly stalled at current levels.
  • Sterne Agee isn't in panic mode over the Macau sector, noting the 21M cap proposal could be posturing by the government in order to pull some levers with companies on land allowances.
  • Related stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MGM), Melco Crown (MPEL +1%), Galaxy Entertainment (OTCPK:GXYEF -3.6%), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY).

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