{"id":23072,"date":"2018-12-12T08:59:25","date_gmt":"2018-12-12T16:59:25","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23072"},"modified":"2018-12-12T09:14:06","modified_gmt":"2018-12-12T17:14:06","slug":"moderate-sized-trouble-in-little-china","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/moderate-sized-trouble-in-little-china\/","title":{"rendered":"Moderate-sized trouble in Little China"},"content":{"rendered":"<p>There&#8217;s trouble ahead for <strong>Macao<\/strong> but the casino industry has plenty of time to brace for impact. Credit in <strong>China<\/strong> is down 6% year over year. As <strong>Credit Suisse<\/strong> analyst <strong>Cameron McKnight<\/strong> reports, <img loading=\"lazy\" class=\"alignright size-medium wp-image-15855\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/04\/Sands-Macao-300x189.jpg\" alt=\"\" width=\"300\" height=\"189\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/04\/Sands-Macao-300x189.jpg 300w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/04\/Sands-Macao-150x94.jpg 150w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2015\/04\/Sands-Macao.jpg 625w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>&#8220;Weak credit data is likely to exacerbate China macro concerns. There is a significant lag (12-15 months plus) between Macau and credit growth. If Macau revenue growth decelerates, it likely reflects macro conditions at least a year ago \u2014 when credit growth was slowing. Secondly, credit growth is very volatile m\/m and q\/q.&#8221;<\/p>\n<p>However, McKnight sees positives in <!--more-->the form of consolidation among junketeers and &#8220;a more diversified player base.&#8221; Also, easier access via the <strong>HKZM Bridge<\/strong> is viewed as a plus. McKnight&#8217;s &#8220;pecking order,&#8221; in descending sequence is: <strong>Galaxy Entertainment<\/strong>, <strong>Sands China<\/strong>, <strong>Melco Resorts &amp; Entertainment<\/strong> and <strong>MGM Resorts International<\/strong>. No word on why <strong>Wynn Resorts<\/strong> didn&#8217;t make the cut and, as far as decrepit <strong>Sociedade de Jogos de Macau<\/strong> goes, who cares?<\/p>\n<p>Well, <strong>Michelin<\/strong> cares. <strong>Joel Robuchon<\/strong> may be gone but\u00a0<strong>Robuchon au D\u00f4me<\/strong> at <strong>Grand Lisboa<\/strong> hung on to its three-star rating. Ditto Chinese restaurant <strong>The Eight<\/strong>, also at Grand Lisboa. <strong>Jade Dragon<\/strong> in Melco&#8217;s <strong>City of Dreams<\/strong> was upgraded from two stars to three and\u00a0<strong>Alain Ducasse at Morpheus<\/strong> debuted with two stars. As for one-star restaurants, <a href=\"http:\/\/www.ggrasia.com\/macau-casino-sector-adds-michelin-stars\/\" target=\"_blank\" rel=\"noopener noreferrer\">they were a plethora<\/a>, too numerous to name.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#8217;s trouble ahead for Macao but the casino industry has plenty of time to brace for impact. Credit in China is down 6% year over year. As Credit Suisse analyst Cameron McKnight reports, &#8220;Weak credit data is likely to exacerbate &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/moderate-sized-trouble-in-little-china\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":23045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,14,201,241,62,222,245,213,19,100],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23072"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=23072"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23072\/revisions"}],"predecessor-version":[{"id":23076,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23072\/revisions\/23076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/23045"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}