Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Macau sector lower after major typhoon

Published 08/23/2017, 10:30 AM
© Reuters.  Macau sector lower after major typhoon
  • Casinos in Macau are closed or are running at diminished capacity after Typhoon Hato blasted the region. Anecdotal reports indicate that casino gaming floors are nearly empty as might be expected after the strongest storm in five years pounded the region.
  • Earlier estimates on the negative impact on August gaming revenue range from Hato range as high as a couple of hundred basis points (JPMorgan (NYSE:JPM)) to 80-90 bps (Nomura). The hit to revenue is minor compared to the +25% to +29% forecasts for the full month and the low double-digit growth seen for the quarter as tougher comparable start to pile in.
  • Melco Resorts & Entertainment (NASDAQ:MLCO) is down 2.77% in a move that is the most notable dip in the sector.
  • Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY).
  • Related ETF: BJK.
  • Sources: GGR and Bloomberg
  • Previously: Typhoon Hato hits Macau (Aug. 23)
  • Now read: New Stocks For Safest Dividend Yields Model Portfolio: June 2017

Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.