International edition
September 21, 2021

Negative growth likely

August not getting better in Macau

(Macau).- Wells Fargo analyst Cameron McKnight believes we are likely to see another month of negative growth in Macau. Based on their checks through August 21, Wells Fargo believes last week’s average daily run-rate was at USD 106-112.5 million, down 10 percent from the previous week’s USD 120.2 M.

I

nvestors of Macau should watch out for US$ 122.3 million ADR as a benchmark for healthy gaming recovery.

Wells Fargo believes August’s decline was mostly due to lower VIP volumes and hold. As such, “August mass growth results will be a key focal point for investors,” said McKnight. In July, mass gaming revenue slowed down sharply, surprising analysts and investors alike.

Wells Fargo now expects Macau to register “negative single digit growth.”

Checking in on the Macau stock performance on Monday, Melco Crown fell 1.3%. Las Vegas Sands dropped 0.7%. MGM Resorts dipped 0.8%. Wynn Resorts rose 0.2%. For comparison purposes, the S&P 500 rose 0.5%.

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