Bad results for Macau casinos

Casinos in Macau booked 8.25 billion patacas in revenue for June 2009, down 17.3 percent from a year earlier and 6.3 percent from the holiday month of May, preliminary data released by Portuguese news agency Lusa showed.

The numbers had an immediate sobering impact on shares of casino operators with Macau properties.

JPMorgan's Joseph Greff said in a client note that the Chinese enclave's gaming revenue results continue to be hurt by soft economic conditions, a tighter credit environment and travel restrictions.

Associated press reports that Janet Brashear of Bernstein Research said the lacklustre June results stem from lower Macau visitation that was prompted by swine flu fears.

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results