Jinwu Finance News | Macau casino stocks are all weak, mgm china (02282) fell 2.57%, melco int'l dev (00200) fell 2.02%, wynn macau (01128) fell 2.01%, sands china (01928) fell 1.87%, galaxy ent (00027) fell 1.38%.
On the news front, according to industry data, Macau's gambling revenue for the first 8 days of September is expected to reach approximately 4.75 billion Macau patacas. The implied daily gambling revenue for this period is approximately 0.594 billion Macau patacas, a decrease of about 6% compared to the last 13 days of August with a daily gambling revenue of approximately 0.635 billion Macau patacas.
The bank pointed out that although Typhoon Mokace disrupted operations last Thursday and Friday, the impact was much smaller compared to the temporary closure of casinos during the first weekend of September last year due to Typhoon Hato. According to industry sources, VIP room betting volume is expected to decline by 7-10% monthly, and mass market betting volume is expected to decline by 5-8% monthly. To reflect the slight negative impact of the typhoon, the bank has revised down its gambling revenue forecast for the period ending on September 24 from 18.5 billion Macau patacas to 18.25 billion Macau patacas, which means that the daily gambling revenue for the remaining time of this month is approximately 0.614 billion Macau patacas.
