Wednesday, December 03, 2014

Wow. Macau’s Casino Stocks Crushed!

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I have been saying that market crashes have become real time phenomenon.

So far, these crashes have been concentrated in oil and mineral related markets and in the gambling industry, particularly for the latter in Macau as I explained many times such as here and here but also in Singapore and in the US

Ironically the stimulus from the BOJ-ECB-PBOC has done little to forestall such crashes from occurring.

The skyrocketing Chinese stocks have also done little to alleviate the plight of Macau’s Casinos. 

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Two days back Macau casinos via the autonomous government’s Gaming Inspection and Coordination Bureau reported a 19.6% slump in revenues which marks the 6th successive monthly hemorrhage

Today, Macau’s blue chip casinos had been pulverized.


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Sands China Ltd. (HK: 1928)

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Wynn Macau Ltd. (HK: 1128)

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SJM Holdings Ltd. (HK:880) owner of Grand Lisboa

Today's carnage deepens their respective bear markets.

Singapore’s Genting (G13.SI) operator of Resorts World Sentosa was off by only .88%.

Interesting.

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