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Macao Casinos Indicator Analysis: Revenue Sustainability in Question

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Macao Casinos Indicator Analysis: Revenue Sustainability in Question PART 1 OF 11

Casino Stocks Lose Recovering Streak in August

Stock movement

Stocks of major Macao casinos have been on the rise since September 2016 when casino revenues started rebounding. Those casinos include Las Vegas Sands (LVS), Galaxy Entertainment Group (GXYEY), Melco Crown Entertainment (MPEL), MGM Resorts International (MGM), and Wynn Resorts (WYNN). However, since June 2017, those stocks have been volatile due to fears about revenue growth sustainability.

Casino Stocks Lose Recovering Streak in August

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For August, MGM Resorts has risen 2.4%, and Wynn Resorts has risen 0.84%. On the other hand, Las Vegas Sands has fallen ~5.0% in the month, followed by Melco Crown Entertainment, which has fallen 6.6% in the same period. The Market Vectors Gaming ETF (BJK), which replicates the Market Vectors Gaming Index, has fallen close to 2.1% in the month. The broader market, represented by the SPDR S&P 500 ETF (SPY), has risen 1.3% in the same period.

Year-to-date performance

YTD (year-to-date) as of August 29, 2017, WYNN has posted the highest rise of 56.3%. Melco Crown Entertainment followed with a rise of 31.9%. Las Vegas Sands rose 13.7% in the same period, and MGM Resorts rose 11.1%. YTD as of August 29, 2017, BJK has risen 17.8%, and SPY has risen 9.5%.

Series overview

In this series, we’ll be looking at the gaming industry in Macao and how it’s been performing lately. We’ll analyze various key indicators such as gross gaming revenues and visitor arrivals and why they’ve declined in the past quarters. We’ll also take a look at how the Chinese economy will affect companies in the Macao region.

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