HALISTER1: Macau Faces Threats From Weaker Yuan, Shanghai Disney: MS Survey

Macau Faces Threats From Weaker Yuan, Shanghai Disney: MS Survey

(Bloomberg) -- AlphaWise survey of 1,000 Chinese gamblers shows 55% said they would shorten their stay or search for cheaper options if yuan depreciated, Morgan Stanley analysts including Praveen Choudhary write in note.
  • 30% of Chinese gamblers surveyed said they might visit Macau less often once Shanghai Disney opens
  • Dependence on UnionPay cards for cash remains high at 60%
  • Wynn Macau raised to equal-weight vs underweight, PT raised to HK$11 from HK$10
  • Melco Crown cut to equal-weight vs overweight, PT lowered to $15.50 from $16.50
  • NOTE: Shanghai Disney theme park opens June 16
  • Earlier, Hidden Earpieces in VIP Rooms Show Macau Money Laundering Risks
  • NOTE: Nov. 12, Macau Casinos Fall on Report China to Regulate UnionPay Use
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
MPEL US (Melco Crown Entertainment Ltd)
MS US (Morgan Stanley)
WYNN US (Wynn Resorts Ltd)

People
Praveen Choudhary (Morgan Stanley Asia Ltd)

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