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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.
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.
MGM China Holdings (HK:2282)
Galaxy Entertainment Group (HK:27)
Melco Crown Entertainment (HK: 6883)
Sands China Ltd. (HK: 1928)
Wynn Macau Ltd. (HK: 1128)
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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