Macau’s gross gaming revenue for July fell for the 14th straight month by 34.5 percent year-on-year to MOP18.62 billion ($2.33 billion), according to the Gaming Inspection and Coordination Bureau.
The figure takes the accumulated GGR for the past seven months to MOP140.26 billion, a YoY decline of 36.7 percent.
Bernstein Research analyst Vitaly Umansky said July's average daily revenue was MOP600 million, compared with June's ADR of MOP579 million.
“While July is typically expected to have some seasonality uptick from June, we believe that this month has shown an important sign of stabilization and improvement as the market looks to bottom out.”
Sands China gained the most market share and SJM lost the most.
“We continue to favor Sands China on the back of its critical mass garnered from the inter-connected casino resorts in Cotai, as well as its operational and marketing acumen to weather the challenges in the market.”
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