Macau Gaming Revenue Projected Lower For 2014

Bloomberg reported late Tuesday that 2014 gaming sales may be down year-over-year for 2014.

Lisa Pham reported that Macau gross gaming revenue for 2014 may fall 0.6 percent, according to estimates by 9 analysts surveyed by Bloomberg First Word.

Macau gross gaming revenue reached $38 billion through October, implying that sales will reach $44.89 billion for 2014, down from sales of $45.16 billion in 2013.

The report noted that "Macau annual GGR has risen for four years in a row, according to data on city’s Gaming Inspection and Coordination Bureau website 2015 Macau GGR median est. 2 percent growth (12 analysts, range -7 percent to +10 percent).
"

"Challenges facing Macau casinos include stiff comparisons vs 2013, slowing mass-market growth, China’s continuing anti-extravagance campaign [and] labor unrest.

"October revenue fell 23.2 percent YoY, [the] biggest monthly decline since 2005 according to Bloomberg data, dropping for 5th straight month."

Year-to-date shares in gaming companies have fallen:

• Galaxy Entertainment Group Ltd GXYEY -25 percent
• Melco Crown Entertainment Ltd (ADR) MPEL -33 percent
• MGM Resorts International MGM -4 percent
• Las Vegas Sands Corp. LVS -21 percent
• SJM Holdings Ltd -42 percent
• Wynn Resorts, Limited WYNN -7 percent