Casino shares go down as Golden Week numbers disappoint
This time the so called “Golden Week” included the Mid-Autumn Festival, with the holiday lasting eight days instead of the usual seven.
Figures also showed that 76.6 percent of the visitors came from mainland China with the number of Chinese tourists increasing by 9.6 percent.
Still, numbers did not turn into revenue success that casino operators had expected for the week.
According to Bloomberg, Galaxy Entertainment Group was the worst perfomer on Hong Kong’s Hang Seng Index while Sands China Ltd. dropped 2.7 percent last week. It's not that people didn't step into casinos. They just did not gamble that much.
“Gaming revenue for the holiday was flat compared with last year, or only grew slightly,” President of the Power Macao Gaming Association Stephen Lau reportedly said.
Meanwhile, the Macau Daily Times reported that Galaxy shares fell 1.9 percent Monday while Sands China dropped 2.7 percent, the biggest decline since June 1, at the close in Hong Kong.
Zitro Digital appoints Thiago Valadão as Commercial Director for Brazil
HIPTHER appoints Elena Stepanyatova to lead event content and production across conference portfolio
Red Rock Resorts posts record quarterly revenue, flags construction impact
William Hill owner Evoke to close 270 shops as losses widen on tax hit
Racing and Sports partners with Altenar to enhance global racing offering
IDX selected to power 250 gaming tables with X-Trend system at the Westside Resort
PokerStars adds Prague and Aix-en-Provence, France to 2026 live schedule
