Amid political tensions between China and North Korea

Macau casino stocks fall

Although the figures are not yet critical, if the North Korea situation keeps getting worse -which seems like a strong possibility- travel to Macau could slowdown.

Macau 
| 11/08/2017

Shares of casino industry giants such as MGM Resorts, Las Vegas Sands, Melco International and Wynn Resorts drop during the past days.

Publicidad

A report published by Nasdaq website showed that shares of Melco International, which receives the majority of its revenue from Macau, fell 2.22% on Thursday, while Las Vegas Sands, which also has a presence in the region, fell 1.07%.

Wynn Resorts and MGM Resorts International, both U.S-based operators which own casinos in Asia's gambling capital, sank by around 3%

June travel to Macau rose 0.86% year-over-year according to an Oversea-Chinese Banking Corporation report. Mainland Chinese visitor rates to the gambling destination increased by 0.8%. But travel from nearby Hong Kong fell by 3.9%, and Taiwanese tourism dropped by 9.9%

The report cited expensive transportation costs and pricey accommodation as possible reasons for June's slowdown in tourism.

 

Yogonet.com/nasdaq.com

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