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Casino Stocks in Focus, Macau Gambling Revenues Dip in January
Macau, which is the world’s largest gambling hub, witnessed decline in casino gross gaming revenue (GGR) in January for the first time in more than two-and-a-half years. Gambling revenues from the region declined 5% in the month. Slowdown in China and the trade war between Beijing and Washington impacted casino operators in Macau.
Gambling revenues from Macau decreased to 24.9 billion patacas ($3 billion) in January from 26.3 billion patacas a year ago. The downside can be attributed to smoking ban that came into effect on Jan 1 and not so encouraging environment ahead of Chinese New Year holiday. However, the decline was within analysts’ expectation of flat to down 12%.
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https://www.zacks.com/stock/news/351461/...in-january
Macau, which is the world’s largest gambling hub, witnessed decline in casino gross gaming revenue (GGR) in January for the first time in more than two-and-a-half years. Gambling revenues from the region declined 5% in the month. Slowdown in China and the trade war between Beijing and Washington impacted casino operators in Macau.
Gambling revenues from Macau decreased to 24.9 billion patacas ($3 billion) in January from 26.3 billion patacas a year ago. The downside can be attributed to smoking ban that came into effect on Jan 1 and not so encouraging environment ahead of Chinese New Year holiday. However, the decline was within analysts’ expectation of flat to down 12%.
...
https://www.zacks.com/stock/news/351461/...in-january
