MSC - Macau gaming revenue for August tops expectations but is the lowest tally of the year

Macau gross gaming revenue rose 234% year-over-year in August to 4.44B patacas ($550M) to top the consensus expectation for growth of 176%. The GGR tally for the month was down 47.4% from the level in July as some tightened travel and border restrictions at the beginning of the month factored in. While August was also the lowest GGR month of 2021, there is some positive momentum heading into September. "Visitation and GGR have experienced the beginning of recovery in the latter part of the month as the travel impediments have been gradually relaxed, and China reducing travel restrictions in many areas after passing the peak of the most recent COVID outbreak," note Bernstein analysts. Year-to-date gross gaming revenue in Macau is 70.1% higher year-over-year to 61.9B patacas ($7.73B). Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Wynn Resorts (NASDAQ:WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), Las Vegas Sands (NYSE:LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY).

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Macau gaming revenue for August tops expectations but is the lowest tally of the year