Dollar bonds of Macau’s casino operators trended lower with reports noting that Xi Jinping winning his third term as leader of China’s Communist Party may put further pressure on casino operators. Pitchbook news notes that Xi appointed the architect of the lockdown program, Li Qiang to the number two position in the Standing Committee. Fears are that the shakeup in office may lead to possible reversal of its stance to ease Covid-related restrictions which can affect tourism to Macau.
Macau Casino Bonds Drop Further Lower
