International edition
December 14, 2017 | Edition Nº3383

Amid political tensions between China and North Korea

Macau casino stocks fall

Macau casino stocks fall
Shares of casino industry giants such as MGM Resorts, Las Vegas Sands, Melco International and Wynn Resorts drop during the past days.
Macau | 08/11/2017

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

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.

 

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