What Does China’s Falling RMB Mean For Macau Gaming Stocks? [The Motley Fool]
SANDS CHINA LTD UNSP/ADR (SCHYY)
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Source: The Motley Fool
What Does China’s Falling RMB Mean For Macau Gaming Stocks? Given that it's illegal to gamble in China, Macau has been a popular destination for Chinese tourists for years. Not only is gambling legal in Macau but the city has also transformed itself into an entertainment destination. With Macau situated right next to some of China's richest provinces, casinos there attract a substantial portion of Chinese gamblers. While the gaming experiences available in Singapore and Las Vegas are comparable, they are much further away geographically. Image Source: Getty Images. It may not be widely known but Macau used to rely on the high-roller VIP crowd to power revenue growth, but lately the city has become more determined to court ordinary Chinese, also known as the "mass market" crowd, for sales. This is a positive development trend for Macau casinos given that the mass market crowd keep growing as China's middle class expands. Not only this but the mass market is also a more sustainable reve
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