Macau GGR could be lifted ‘significantly’ from early 2023, says UBS

After the National Health Commission of China announced that inbound travelers will no longer be subject to a 5-day quarantine plus 3-day home isolation requirement upon arrival as of January 8, UBS analyst Angus Chan noted that a nucleic acid test requirement remains in place for inbound visitors to Macau but said he believes gross gaming revenue, or GGR, could be lifted "significantly" from early 2023 after the "effective removal" of quarantine requirements in Greater China. Macau-linked casino stocks include Las Vegas Sands (LVS), Sands China (SCHYY), Wynn Resorts (WYNN), Wynn Macau (WYNMF), MGM (MGM), MGM China (MCHVF), Melco Resorts (MLCO), Galaxy (GXYEF) and SJM (SJMHY).