Smoking ban in Macau casinos draws closer

• The Macau Legislative Assembly approved a first reading of a bill to ban smoking inside all casinos in the city.
• The measure was supported by a vote of 26 to 2.
• The tobacco bill is expected to be implemented early next year after the issue of whether smoking lounges inside casinos will be allowed is debated.
• Analysis on the potential impact on revenue of a full smoking ban or partial ban (lounges allowed) varies widely. Some legislators are expected to support increasing the number of Mainland tourists allowed to visit Macau to make up for a loss of gamblers.
• Macau casino stocks: Melco Crown (MPEL), Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), MGM Resorts (NYSE:MGM), Wynn Resorts (NASDAQ:WYNN), Las Vegas Sands (NYSE:LVS).