Credit Suisse has released a report recommending that conservative investors avoid buying stakes in Macau’s gaming stocks. This advice comes in light of the weaker-than-expected Gross Gaming Revenue (GGR) indicators for November. The research house added that, despite a slight improvement in the mass gaming sector and the loan repayment system for VIP customers, the recovery of the industry is likely to occur more slowly than has been suggested. GGR plummeted 32.3 percent year-on-year in November to MOP16.43 billion. The report advised investors to avoid buying stakes in gaming stocks until there are stronger signals of a recovery. The broker’s top pick was Galaxy Entertainment Group.
USJ awards 95 scholarships
The University of Saint Joseph (USJ) held its 2015 Scholarship Award Ceremony at the Chapel of Saint Joseph Seminary yesterday. The annual ceremony takes place each year to support students who demonstrate outstanding academic performance or those experiencing financial difficulties. A total of 95 students, either undergraduate or recently graduated, were awarded scholarships from a donation fund of MOP1,062,500. The fund was bankrolled by the university’s donor community, of whom there were more than 20 representatives present at the ceremony. This year, the Bank of China Macau Branch Best Research Awards Ceremony was included to recognize the contributions of academic staff.
Lions release star pitcher after local gaming spree
Korean baseball champions, the Samsung Lions, have announced the release of pitcher Lim Chang-yong. He has been prohibited from playing since October, due to an investigation into his gambling activities. In October, allegations emerged that Lim and teammates Ahn Ji-man and Yoon Sung-hwan had traveled to Macau in January to gamble. According to The Chosun Ilbo, Lim Chang-yong and other two players have been affected by the case.
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