Shares of Macau casino operators are spiking this week following last Friday’s release of Macau’s gross gaming revenue (GGR) numbers for the month of June.
After early indications that GGR numbers for June might fall short of expectations, the 36.2 percent year-over-year GGR decline reported was slightly better than consensus estimates of a 37.0 percent decline and much better than the 40.0 percent decline that some had feared.
Finding A Bottom
June marks the 13th 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 and June’s -36 percent could be further indicators that the Macau market is finally stabilizing.
Despite indications that year-over-year GGR declines in Macau may have peaked, June’s GGR of only 17.3 billion patacas represents the lowest total monthly GGR number in Macau since November 2010.
Much-Needed Good News
Macau has seen…
Read the rest of this article (and all my other articles) for free on Benzinga by clicking here
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
