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Macao's June Gross Gaming Revenue Lower Than Expected, Macquarie Says
Macao's gross gaming revenue hit 17.7 billion Macanese pataca in June, down 12% sequentially and 26% lower from the comparable 2019 period, Macquarie said in a note published on Tuesday.
Hong Kong stock market anomaly | Macau casino stocks come under pressure again, MGM China (02282) falls more than 3%, Macau gambling data is still in a seasonal low.
According to a research report released by Citi, as of press time, Macau casino stocks are under pressure again. MGM China (02282) fell 3.54% to HKD 12. Paradise Entertainment (01180) fell 2.33% to HKD 0.84. Melco International Development (00200) fell 1.37% to HKD 5.04. Galaxy Entertainment (00027) fell 0.44% to HKD 33.9. According to industry sources, the casino revenue for the first seven days in July in Macau was about MOP 3.85 billion, which means the average daily income is about MOP 0.55 billion, lower than the last week of June 24.
Macau's Gross Gaming Revenue Surges 16% in June
Macau's gross gaming revenue surged 16% to 17.7 billion Macanese patacas in June from 15.2 billion patacas in the year-ago period, according to data from the city's Gaming Inspection and Coordination Bureau released recently.
Macau Gaming Industry Association: Raising the threshold for free snacks will help control costs and have little impact on the revenue of gaming companies.
According to Song Weijie, the chairman of the Macau Gaming Association, raising the threshold for free snacks at casinos may have an impact on the revenue of the casino companies, but it is not expected to be significant.
China's Lottery Sales Jump Over 20% in April
China's April lottery tickets spiked 10.2% over the year to 55.46 billion yuan, according to a report from the General Affairs Department on Tuesday.
PARADISE ENT: Annual Report 2023
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