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Why Casinos Are On A Losing Streak

Glax0r's Photo Glax0r 06 Oct 2014

Why casinos are on a losing streak
By Lawrence Lewitinn | Talking Numbers

It’s “Golden Week” in China—a seven-day long civic holiday. That could spell relief for a number of casinos in Macau, which is suddenly seeing a decline in gaming revenue.

Recent government anti-corruption and anti-smoking initiatives have caused gambling revenues in Macau to drop by around $500 million to $3.2 billion in September, the fourth monthly decline in a row for the territory.

While these initiatives were expected, the pro-democracy protests in Hong Kong, which is just a quick ferry ride away, were not. Some traders believe that too is hurting gaming activity.

“People have been expecting a crackdown on corruption,” said Gina Sanchez, founder of Chantico Global and a CNBC contributor. “But this trouble in Hong Kong, this is new, and this is not priced in and I think that’s probably going to add a new layer of hurt to a stock that is already hurting.”

READ THE FULL ARTICLE ON YAHOO AT: http://finance.yahoo...-191825688.html
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