According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of October came in at 20.0 billion patacas, about 28 percent lower than October 2014’s number.

Shares of Melco Crown Entertainment Ltd (ADR) MPEL 4.07%, Las Vegas Sands Corp LVS 0.79%, MGM Resorts International MGM 1.43% and Wynn Resorts, Limited WYNN 2.64% were all trading higher by more than 1.3 percent on Monday following the news.

Has Macau Found A Bottom?

October marks the 17th consecutive month of year-over-year negative gaming revenue growth in Macau, but shareholders of Macau names are hoping that the 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. The October number marks the highest monthly revenue total for Macau since May and the lowest year-over-year decline since January.

The Bad News Barrage

Macau has seen…

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