Gaming revenue in Macau increased 14.4% in October to 18.8B patacas ($2.353B), according to data from the Macau Gaming and Inspection Coordination Bureau.
The monthly tally is higher than the consensus estimate from analysts for a 11% gain and marks the best monthly growth rate since February 2014, although it came against a comparable from last year that was the low point for the Macau slump.
"Visitation is starting to grow again and more importantly, people are staying longer," notes CLSA analyst Marcus Liu. Melco Crown chief Lawrence Ho says the region is seeing a "natural" recovery.
Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MG), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Melco Crown (NASDAQ:MPEL).
Related ETF: BJK.