Macao Shows Dramatic Slowdown in Revenue Growth for May; Traders Eye Casinos (MGM) (LVS) (WYNN)
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Casino stocks are seeing some pressure Friday morning following the issuance of May gaming data for Macao which showed a drastic slowdown in overall growth.
According to the Gaming Inspection and Coordination Bureau of Macao, revs in May moved just 7.3 percent higher to 26.078 billion pacatas. This compares with 24.306 billion pacatas reported in the same period last year.
Year-to-date accumulated revs growth in the region was down to 21.3 percent, the second month in a row. Cumulative growth slowed from 27.0 percent to 25.7 percent from March to April.
Of note, May 2011 sales growth of 42.4 percent was relatively weak in comparison to February, March, and April numbers.
Traders are watching the following stocks on the numbers:
According to the Gaming Inspection and Coordination Bureau of Macao, revs in May moved just 7.3 percent higher to 26.078 billion pacatas. This compares with 24.306 billion pacatas reported in the same period last year.
Year-to-date accumulated revs growth in the region was down to 21.3 percent, the second month in a row. Cumulative growth slowed from 27.0 percent to 25.7 percent from March to April.
Of note, May 2011 sales growth of 42.4 percent was relatively weak in comparison to February, March, and April numbers.
Traders are watching the following stocks on the numbers:
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