Macau casino stock prices fall
The stock price of Macau’s top six casinos has fallen 40% on average since June, sparking concerns of a decrease in VIP gambling.
Monthly gross gaming revenue (GGR) for Macau casinos increased year-on-year in September – but only by 3% to MOP21.95bn ($2.72bn).
The region’s casinos were impacted by Typhoon Mangkhut last month, although growth still failed to match adjusted forecasts accounting for the natural disaster.
Subsequently, some analysts believe trade tensions and increased regulation are keeping VIP customers away from Macau’s casinos.
A fresh operation against money laundering was launched last week and produced 12 arrests, with two of those arrested detained.
The raid was in keeping with the anti-corruption campaign China President Xi Jinping has led since 2013.
Despite September’s slow growth, however, it was still the Macau casino industry’s 26th consecutive monthly year-on-year gain. A higher rate of growth is predicted in October, last year’s highest month for GGR (MOP26.63bn).
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