Wednesday, September 10, 2014 3:44:00 PM
Las Vegas Sands stock price has declined by more than 5% over the past week due to a drop in gaming in Macau. Gaming revenues dropped by 6% for the month of August. This is third consecutive monthly decline in Macau gaming. While the region has witnessed a decline in gaming over the past few months, it is still up 8% for the year so far. Earlier in June, the increased betting on sports led to lower gambling in Macau. Moreover, the Chinese government’s anti-corruption crackdown added to the woes and VIP players stayed away from Macau. Further in July, the government imposed visa transit restrictions that contributed to the decline in gaming.
Macau VIP gaming contributes more than 20% to Las Vegas Sands
We are eager to see how VIP gaming trends in the coming months. Our current estimate for Macau VIP gaming gross revenues stands at $5.29 billion for 2014, representing 5% growth over the previous year.
While the gaming situation in Macau may be fragile in the near term, we expect casinos to do well in the long run. It must be noted that Macau is the only place in China where gambling is legal.
If they got a 5.29 billion gross profit the stock sure does not show it WTF
How Will The Decline In Macau Gaming Impact Las Vegas Sands?
http://www.forbes.com/sites/greatspeculations/2014/09/10/how-will-the-decline-in-macau-gaming-impact-las-vegas-sands/
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