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Macao Takes Lower Revenues than Expected in June

Macao Takes Lower Revenues than Expected in June

Last month saw revenues rise in Macau at a double-digit pace but slightly slower than analysts had expected. As a result a number of investors have sold their shares.

Gaming revenue rose by 26.9% year-on-year in June to $2.5 billion. However, this was slightly lower than the median estimate compiled by Bloomberg of 30% growth. It brought total gaming revenue for the territory to 126.4 billion Patacas for the first half of the year.

While things are looking up in Macau after a period of falling revenues, shares in Macau casino operators still slipped. Galaxy Entertainment shares fell 3.2% and Sands China fell 2.1%. China’s anti-corruption campaign kept many high rollers away from the territory and now operators have turned their attention to mass-market gamers and opened a number of new resorts last year. Since then revenues have started increasing again but all eyes are likely to be on July’s figures.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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