It was actually a glimmer of good news from Macau in late June.
That is, if you 13 consecutive month decline in gaming revenues from the Chinese market rank and play only the lowest monthly figure in the region since November 2010 as a good news.
The Chinese government has relaxed the rules of the visit, starting on Wednesday, which essentially allows mainland residents to Macau held twice in 60 days visit twice a month. You can also stay in Macao for a maximum of seven days from the previous limit of five days.
The proclamation was a slight bump in share price on Tuesday of Las Vegas Sands Corp., Wynn Resorts Ltd. operate and MGM Resorts International, the casinos in Macau by building thousands of stations and expand their operations millions of dollars.
But it did not help the overall sales in June.
Games Macao and Inspection Coordination Office said on Wednesday nearly three dozen casinos on the market collected $ 2,172 million in gaming revenues in June, up 36 percent compared to a year ago.
June was the double-digit decline in the ninth consecutive year Macao. In the first six months of the year the Macau gambling revenue fell 37 percent.
"Although 36 percent year on year decline is far from healthy, we are encouraged by the question of the modest improvement in sequential comparison is the trend," he said Stifel Nicolaus Capital Markets analyst Steven Spielberg investors Wieczynski Wednesday.
Nomura analyst Harry Curtis actually said a number of Macau gambling revenues in the last nine days of the month. He said the decision by the Chinese government to increase participation shows the direction you are concerned about, the 13 consecutive months of declining revenues.
"At the moment there is no clear reason for the increase in the past, but could at the beginning of the summer tourist season, which are traditionally more highly correlated," Curtis said.
A government anti-corruption and economic softening Chinese economy slowed in the games market in China since last year. Much of the research focused on Quark entrepreneurs to bring corruption to the halls of high-end gaming.
Last week, the Central Discipline Inspection Commission of China announced a new series of inspections of corruption by. On 26 authorities and public undertakings Also charged with laundering over the past week, Macau casino operator Quark Cheung Chi-tai, of nearly $ 2 billion, has been arrested by the police in Hong Kong.
Wells Fargo Securities analyst Cameron McKnight said China game said: "Great Recession" in China's economy remains the "headwinds" disturbing for a sustained recovery in the Macau market.
New Casinos - Wynn Palace $ 4000000000, $ 2900000000 2.7 billion Cotai MGM Paris "Las Vegas Sands - should open in 2016.
"Once Macao will improve the result, we do not expect a sharp" V-shaped recovery, as in 2009 and 2013 taking into account the configuration of strict guidelines and lack of diversified economic activities in China, "McKnight said.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Trouverhowardstutz on Twitter.
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