DISMAL JUNE FOR MACAU CASINOS

3 July 2009

Revenues fall 17.3 percent
 

Casinos in Macau booked 8.25 billion patacas in revenue for June 2009, down 17.3 percent from a year earlier and 6.3 percent from the holiday month of May, preliminary data released by Portuguese news agency Lusa showed.

The numbers had an immediate sobering impact on shares of casino operators with Macau properties.

JPMorgan's Joseph Greff said in a client note that the Chinese enclave's gaming revenue results continue to be hurt by soft economic conditions, a tighter credit environment and travel restrictions.

Associated press reports that Janet Brashear of Bernstein Research said the lacklustre June results stem from lower Macau visitation that was prompted by swine flu fears.         

Online Casino News Courtesy of Infopowa

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