Macau Suffers Wider-than-Expected Gaming Revenue Drop Following Anti-Corruption Crackdown (MGM) (LVS)

MGM Resorts (NYSE: MGM), Wynn Resorts (Nasdaq: WYNN), Las Vegas Sands (NYSE: LVS), and Melco Crown (Nasdaq: MPEL) are on watch Friday following annual gaming data released in Macau.

According to Macau’s Gaming Inspection and Coordination Bureau, revenue in December fell 30.4 percent to 23.285 billion patacas, from 33.460 billion patacas reported in the same period last year.

The data led to an annual drop of 2.6 percent to 351.52 billion patacas. News comes as gaming revenue growth fell each month since last June. It was the largest drop since data began being recorded in 2005.

Consensus estimates were looking for a drop of 2 percent in 2014.

February was the best month of 2014, with revenue growth up 40.3 percent to 38.007 billion patacas.

News comes as China has implemented an anti-corruption crackdown, which might mean lower gaming revenue in the special administrative region until the middle of this year.

More from the Macau Gaming Bureau:

Monthly Gross Revenue from Games of Fortune

You May Also Be Interested In

• Humana (HUM) surges on Q1 beat, reiterated adjusted earnings outlook
• Las Vegas Sands (LVS) PT Lowered to $65 at Stifel
• Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises