According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of May came in at 20.3 billion patacas, about 37 percent lower than May, 2014.

Shares of Melco Crown Entertainment Ltd MPEL 0.67%, Las Vegas Sands Corp. LVS 2%, MGM Resorts International MGM 0.97% and Wynn Resorts, Limited WYNN 1.8% all opened down on Monday following the news.

Has Macau Finally Reached Rock Bottom?

May marks the 12th consecutive month of negative gaming revenue growth in Macau, but shareholders of Macau names are hoping that they have reached a turning point.

February marked the high point for gaming revenue declines so far in 2015 at -48.6 percent. After two consecutive monthly revenue declines came in at nearly exactly -39 percent, May’s -37 percent could be another sign that the Macau market is finally stabilizing.

The End Of The Bad News Barrage?

Macau has seen…

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