According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of September came in at 17.1 billion patacas, about 33 percent lower than September 2014.
Shares of Melco Crown Entertainment Ltd (ADR) MPEL 9.09%, Las Vegas Sands Corp. LVS 7.39%, MGM Resorts International MGM 2.58% and Wynn Resorts, Limited WYNN 2.16% all opened slightly higher on Thursday following the news.
Related Link: Downtown Vegas Gaming Revenue Jumps 15% In August
Has Macau Found A Bottom?
September marks the 16th consecutive month of negative gaming revenue growth in Macau, but shareholders of Macau names are hoping that the year-over-year declines have now stabilized.
February marked the high point for gaming revenue declines so far in 2015 at -48.6 percent. Since February, year-over-year declines have been trending lower on easier comps. However, the September GGR total marks a new multi-year low for Macau.
The Bad News Barrage
Macau has seen…
Click here to continue reading
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!
