Investors bet on lotteries, smaller issues as large caps lag

    Published in: Latest IntelligenceWhile it’s been a lacklustre week for most of Macau’s biggest casino stocks, some smaller gaming-related companies have provided action amid continuing hype over prospects for growth in the world’s biggest gambling hub.Notably, Suncity Group’s two Hong Kong-traded firms, as well as a handful of gaming stocks linked to China’s booming lottery market, rallied in an otherwise tepid market.After the recent spike in the major concessionaires, with Galaxy Entertainment (0027.HK) and Sands China (1928.HK) hitting record highs, investors have switched to look for bargains in small-cap stocks, with Hong Kong billionaire Henry Cheng kar-shun’s high-profile bid to move into the junket market capturing investor attention.Participants are watching whether Henry, the elder son of Hong Kong business mogul Cheng Yu-tong, chairman of New World Development (0017.HK), will become a rising force in Macau after his company announced plans to buy a listed company controlled by junket operator...

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