Macau casino stocks are struggling. As of publication, MGM China (02282) fell 3.13% to HKD 12.36; Sands China (01928) fell 1.63% to HKD 16.94; Wynn Macau (01128) fell 0.46% to HKD 6.56.
According to the Zhitong Finance app, Macau casino stocks are struggling. As of publication, MGM China (02282) fell 3.13% to HKD 12.36; Sands China (01928) fell 1.63% to HKD 16.94; Wynn Macau (01128) fell 0.46% to HKD 6.56; Galaxy Entertainment (00027) fell 0.13% to HKD 37.15.
JPMorgan released research reports stating that Macau's total gambling revenue for the first 23 days of June reached MOP 13.3 billion, while the average daily gambling revenue last week was MOP 514 million, the lowest in over six weeks. The bank believes that this is due to seasonal weakness and poor performance in VIP rooms. However, the mid-June gambling revenue was still disappointing, which implies downside risk for the month's total gambling revenue forecast. In addition, Citigroup has conservatively lowered its June gambling revenue forecast from MOP 18 billion to MOP 17.25 billion.