According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of August came in at 18.6 billion patacas, about 35.5 percent lower than August 2014.

Shares of Melco Crown Entertainment Ltd (ADR) MPEL 1.46%, Las Vegas Sands Corp. LVS 0.21%, MGM Resorts International MGM 0.05% and Wynn Resorts, Limited WYNN 1.02% all opened down on Tuesday following the news.

Has Macau Found A Bottom?

August marks the fifteenth consecutive month of negative gaming revenue growth in Macau, but shareholders of Macau names had hoped that they had reached a turning point.

February marked the high point for gaming revenue declines so far in 2015 at -48.6 percent. Since February, each subsequent month has seen smaller and smaller declines until the August number halted that trend and came in slightly worse than July’s -34.5 percent.

The Bad News Barrage

Macau has seen…

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