Sands, Galaxy seen as longer-term investment opportunities: Bernstein

Sands China and Galaxy Entertainment should be viewed as long-term investment opportunities once Macau visitor volumes return due to their high installed capacity and expansion plans, Bernstein Research said in a note.

It said MGM China and SJM Holdings are in a relatively weaker position, as MGM Cotai is facing increasing competition and SJM facing execution challenges in the ramp up of Grand Lisboa Palace. The firm was looking at a 2021/2022 time horizon.