BofA Securities released a research report, and the Macao government launched a consultation on amending the gaming law, believing that the market may overreact to the news.
The bank pointed out that the consultation on the revision of the gaming law in Macao is somewhat negative, but not as bad as expected. it believes that the gaming industry in Macao has always been a strictly regulated industry, and it is believed that additional regulation will not undermine shareholder value. the most important problem is that the number of betting cards has not yet been determined.
BofA also mentioned that there was no differential treatment for companies with foreign backgrounds, but pointed out that having a government representative at the board level would ensure that the company's interests were in line with the Macao government's long-term development goals. it can also explain that gaming operators did not fire any local staff during the epidemic.