Heard on the Street: Gambling revenue bounced back at the city’s casinos in September, but investors looking to place a bet would be wise to wait
The gamblers haven’t returned to Macau yet. Investors should probably stay away, too.
Gross gambling revenue in the Chinese semiautonomous city was up 0.6% on year last month. That might seem like an improvement after declines in July and August, but it is against a low base: In September 2018, Typhoon Mangkhut caused citywide disruptions and an unprecedented 33-hour casino shutdown. For the first nine months of this year, gambling revenue was down 3% on year, which could herald the first annual drop since 2016.
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