New casinos boost property prices but undermine table revenues

Competition is intensifying as established casino operators compete in a relatively small area, but at the same time new casinos are creating job opportunities which are going to boost Macau’s residential property sector, according to a Morgan Stanley strategist.

Additional casinos, retailers and hotel spaces in Asia’s Las Vegas will outstrip demand over the next three years, the US investment bank argues in a research report. VIP revenue per table will halve and mass revenue per table will fall 40% over the coming three to four years.

“I am not that bullish on the Macau ...