Macau Casino Revenue Falls 12% in June, Gaming Stocks Rise Individually

According to Macau's Gambling Inspection and Coordination Bureau, casino revenue fell to 18.522 billion Macau patacas in June, declining 12.1% year-over-year and 18.1% month-over-month. Gaming stocks listed on Hong Kong exchanges rose individually in morning trading, with most operators gaining between 0.2% and 2.7%. Analysts at Citi predict casino foot traffic will remain under pressure through the FIFA World Cup final on July 19, but expect July revenue to rebound to around 21 billion Macau patacas, narrowing the year-over-year decline to approximately 5%, supported by major concerts scheduled throughout the month.
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