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Macau casino stocks rocked by warning from junket operator

Discussion in 'Casino Industry & Development' started by Mirageluvr, Sep 29, 2015.

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  1. Mirageluvr

    Mirageluvr Low-Roller

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    How does one junket operator lose $129M in a F/Y? Stunning. BTW, LVS just broke under $40.

    Macau casino stocks rocked by warning from junket operator


    Sep 29 2015, 15:02 ET | By: Clark Schultz, SA News Editor




    Macau casino stocks had another tough day in both Hong Kong and New York after major junket operator Neptune reported a stunning loss of close to $1B HKD ($129M) for its last fiscal year.

    Neptune also warned in a filing of its "extremely vulnerable" liquidity position in the current environment.

    Adding to the anxiety, Nomura's Harry Curtis thinks the situation at Neptune could apply to most junket operators.

    Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), MGM China (OTCPK:MCHVF, OTCPK:MCHVY), Galaxy Entertainment (OTCPK:GXYEF -2.6%), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Wynn Resorts (WYNN -2.1%), MGM Resorts (MGM -4.4%), Las Vegas Sands (LVS -5%)
     
  2. Mirageluvr

    Mirageluvr Low-Roller

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    What a day for WYNN...up 22%. LVS and MGM also had a strong day.

    The Chinese govt. came out and said they would take steps to ensure tourists visit Macau, and that they would support the gaming industry. Not surprising considering the revenue Macau generates for the govt.
     
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