Bernstein's Umansky on Macau's Gaming Outlook

The video discusses the decline of the junket industry in Macau due to structural changes and the pandemic. It highlights the shift from VIP to mass market gaming, affecting revenue and profitability. Despite challenges, the long-term growth potential remains, with a focus on mass and premium mass markets. Investment opportunities are explored, emphasizing a long-term perspective and the potential for market recovery. Sands China is highlighted as a favorable investment due to its mass market orientation.

What role do junket operators play in the overall gaming revenue in Macau?

What are the long-term growth prospects for the gaming industry in Macau post-pandemic?

How might the reopening of borders impact the gaming sector in Macau?