The last two quarters have brought about the first real signs that the Macau casino industry may have finally found its bottom. Anecdotal evidence beginning in late 2015 culminated with a February year-over-year (Y/Y) gross gaming revenue decline of only 0.1 percent.
Macau investors are hoping that March’s revenue number will be the first positive number in nearly two years, but here’s a look back at the Q4 numbers from each of the four major Macau players.
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Las Vegas Sands Corp. LVS reported EPS of $0.62 versus consensus expectations of $0.64 on revenue of $2.86 billion versus expectations of $2.91 billion. The company’s earnings and revenue were down 33 percent and 16 percent Y/Y.
Melco Crown Entertainment Ltd (ADR) MPEL reported EPS of $0.09 versus consensus expectations of $0.05 on revenue of $1.05 billion versus expectations of $1.11 billion. The company’s earnings and revenue were down 60 percent and 6 percent Y/Y.
Wynn Resorts, Limited WYNN reported EPS of $1.03 versus consensus expectations of $0.74 on revenue of $946.9 million versus expectations of $960.1 million. The company’s earnings and revenue were down 14 percent and 17 percent Y/Y.
MGM Resorts International MGM reported EPS of -$0.01 versus consensus expectations of $0.08 on revenue of $2.19 billion versus expectations of $2.26 billion. The company’s earnings and revenue were down 114 percent and 8 percent Y/Y.
Disclosure: the author is long MPEL.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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