According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of January came in at 18.6 billion patacas, about 21.4 percent lower than January 2015’s number.

Shares of Melco Crown Entertainment Ltd (ADR) MPEL 0.64%, Las Vegas Sands Corp. LVS 0.28%, MGM Resorts International MGM 1.19% and Wynn Resorts, Limited WYNN 0.97% were all trading lower in early trading on Monday by more than 1.0 percent after a mixed month of January.

Still Searching For A Bottom

January marked the 20th consecutive month of year-over-year (Y/Y) negative gaming revenue growth in Macau, and shareholders of Macau names are still searching for clear signs that the market has stabilized.

February 2015 marked the high point for gaming revenue declines at -48.6 percent. November’s GGR of only 16.4 billion patacas represented the lowest monthly gaming revenue total for Macau during the current downturn, but December and January’s totals have marked a slight bounce-back from multi-year lows.

The Bad News Barrage

Macau has seen…

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