According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of February came in at 19.5 billion patacas, only about 0.1 percent lower than February 2016’s number.

Shares of Melco Crown Entertainment Ltd (ADR) MPEL 1.71%, Las Vegas Sands Corp. LVS 3.06%, MGM Resorts International MGM 0.3% and Wynn Resorts, Limited WYNN 3.94% were all trading higher in early trading on Tuesday by more than 1.8 percent after a mostly positive February.

Is The Bottom Finally Here?

February technically marked the 21st consecutive month of year-over-year (Y/Y) negative gaming revenue growth in Macau, but shareholders of Macau names are hoping that the essentially flat February number is an indication that the bottom is finally in.

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 February’s total was the highest number in four months.

The Bad News Barrage

Macau has seen…

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