Macau Casino Stocks Decline as World Cup Impact Forecast to Reduce June Revenue

Stock News11:51

Shares of Macau casino operators are trading lower.

Melco International Development Ltd (00200) is down 3.27% at HK$3.55.

MGM China Holdings Ltd (02282) has fallen 3.13% to HK$10.21.

SJM Holdings Ltd (00880) has declined 1.78% to HK$1.66.

Wynn Macau Ltd (01128) is 1.49% lower at HK$5.29.

Sands China Ltd (01928) is down 0.7%, trading at HK$14.16.

A recent research note from Citi indicates that Macau's Gross Gaming Revenue (GGR) is expected to slow in the short term due to the World Cup, which runs from June 11 to July 19. Historical analysis shows that major football tournaments divert gambling budgets of Macau patrons. With this year's expanded format featuring more matches, including an additional 16 teams and a new 32-team knockout stage, the impact could be more pronounced.

Citi forecasts that Macau's GGR will decline by 10% year-on-year in June and by 5% in July, before a rapid post-event recovery driven by strong momentum.

Looking ahead, the bank notes that upcoming concerts at venues such as the Galaxy Arena and The Londoner Arena could help mitigate the potential decline in gaming revenue.

Citi maintains its June GGR forecast at MOP 19 billion, representing a 10% year-on-year decrease. This implies a daily average GGR of approximately MOP 625 million for the remainder of the month.

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