Hong Kong casino stocks slide as Galaxy Entertainment drops over 6%, Macau gaming revenue falls for a fourth straight month

Deep News10-02

Casino stocks in Hong Kong fell across the board, with Galaxy Entertainment (ASX: 00027) dropping more than 6%, Wynn Macau slipping over 5%, Melco International Development declining nearly 5%, SJM Holdings and Sands China falling more than 4%, and MGM China losing over 3%.

On the news front, Macau's Gaming Inspection and Coordination Bureau reported that September gaming revenue came in at MOP 18.063 billion, down 1.2% year-on-year and marking a fourth consecutive monthly decline, missing market expectations of a 2.2% increase, while falling 17.5% month-on-month.

For the first nine months of the year, gaming revenue totaled MOP 187.116 billion, up 3.2% year-on-year.

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