- New estimates from Sterne Agee indicate gaming revenue in Macau is off to a rough start in June.
- Channel checks from the investment firm show the revenue run rate is down 46% Y/Y after the first seven days of the month.
- Sterne sees -33% to -38% growth in the region for June.
- There's also some deep concerns from inside the industry that a blanket smoking ban would be a "disastrous blow" to traffic.
- Over the weekend, government officials in Macau reiterated a plan to push the local legislature for the full smoking ban.
- Macau casino stocks: Melco Crown (MPEL), Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY).
- Premarket movers: Las Vegas Sands (NYSE:LVS) -2.3%, Wynn Resorts (NASDAQ:WYNN) -2.9%, MGM Resorts (NYSE:MGM) -2.2%,
Storm clouds over the Macau gaming sector
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MLCO | - | - |
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