Sep 03, 2014 Newsdesk Uncategorized  
Gaming stocks on the Hong Kong Stock Exchange have been on a roller coaster ride since the beginning of the year.
In July, Macau casino stocks declined 11 percent on average, and underperformed both the MSCI Hong Kong Index and MSCI China Index by 11 percentage points, said Deutsche Bank.
The prolonged VIP slowdown and some deceleration in mass gaming revenue, as well as some negative macroeconomic data in mainland China have been adding to pressure on share prices.
Overall gross gaming revenue (GGR) in Macau fell 3.7 percent in June from a year earlier, the first year-on-year decline in five years, followed by a 3.6 percent drop in July. On Monday, official figures showed the August decline was 6.1 percent from a year earlier.
Stocks of casino operators have also slipped as brokerage firms and investment banks have cut their 2014 growth forecasts. The latest to do so has been Deutsche Bank AG.
Apr 18, 2024
Apr 17, 2024
Oct 02, 2014
Aug 30, 2014
Apr 19, 2024
The deployment of a “smart table” product – combining the use of radio frequency identification (RFID) technology and cameras gathering data for analysis via artificial intelligence (AI) –...(Click here for more)
”Once Solaire North is fully ramped up, and both properties are generating a certain expectation that we have on cash flow… then we will probably launch the Paniman [casino] project”
Enrique Razon
Chairman and chief executive of Bloomberry Resorts