MLCO - Macau gaming revenue falls 71% in November
Another tough month is in the books for the Macau sector as gross gaming revenue fell 70.5% in November to 6.75B patacas, according to the Gaming Inspection and Coordination Bureau. The consensus estimate was for a drop of 69.8%. On a sequential basis, GGR was down 7.2% from October. Gross gaming revenue is down 80.5% YTD to 52.6B patacas after 11 months. JPMorgan describes the November GGR tally as "not terrible" but not good either. Looking ahead to December, early forecasts are for a drop of around 60% to 70%, depending upon the speed of visa processing and COVID-19 testing for tourism from Mainland China. Macau casino stocks: Wynn Macau ([[WYNMF]], [[WYNMY]]), Wynn Resorts (WYNN), Sands China ([[SCHYY]], [[SCHYF]]), Las Vegas Sands (LVS), MGM China ([[MCHVF]], [[MCHVY]]). MGM Resorts (MGM), Galaxy Entertainment (GXYEF), SJM Holdings ([[SJMHF]], [[SJMHY]]), Melco Resorts & Entertainment (MLCO), Studio City International (MSC). Related ETF: [[BJK]].Compare Macau
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Macau gaming revenue falls 71% in November