Shares of Macau casino operators are mixed in early trading on Monday following the release of Macau’s gross gaming revenue (GGR) numbers for the month of July.

The July numbers came in slightly better than Macau officials had expected, but still represented a year-over-year decline of 34.5 percent.

Finding A Bottom

July marks the 14th 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. Since that point, year-over-year declines have been steadily softening, a sign that the Macau market might finally be stabilizing.

Despite indications that year-over-year GGR declines in Macau may have peaked, June’s GGR of only 17.3 billion patacas represented the lowest total monthly GGR number in Macau since November 2010. July’s 18.6 billion patacas represents the second-lowest monthly total since the Macau decline began over a year ago.

No Austerity… Yet

According to GGR Asia, the slight July GGR beat may have saved…

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