Macau casino stocks continue recent decline. As of press time, Sands China (01928) fell 3.31% to HKD 16.34; Melco Int'l Dev (00200) fell 3.11% to HKD 5.29.
According to the WiseNews App, Macau casino stocks continue to decline. As of press time, Sands China (01928) fell 3.31% to HKD 16.34; Melco Int'l Dev (00200) fell 3.11% to HKD 5.29; Galaxy Ent (00027) fell 2.82% to HKD 36.25; MGM China (02282) fell 1.14% to HKD 12.12.
JPMorgan has released a research report stating that Macau's gaming revenue in the first 23 days of June reached MOP 13.3 billion, while the daily average gaming revenue last week was MOP 514 million, the lowest in over six weeks. The bank believes this is due to seasonal weakness and poor VIP room win rate, but the mid-June gaming revenue is still disappointing, indicating a downside risk to the monthly gaming revenue forecast.
In addition, Citigroup pointed out that the win rate in VIP rooms remains weak, while betting volume drops by about 10% month-on-month, and mass market betting volume declines by 10-12% month-on-month. The bank conservatively lowered its June gaming revenue forecast from MOP 18 billion to MOP 17.25 billion.