[ET Net News Agency, 2 January 2020] Morgan Stanley said Macau December GGR dropped
13.7% to MOP22.8bn, below the research house's estimate of 9% decline.
It said the December performance was affected by a high base last year and security
measures ahead of President Xi's visit to Macau to celebrate the 20th anniversary of its
return to China.
Morgan believes the biggest concerns include VIP recovery and license risk. (KL)