Could it be there is no more bad news as far as weekily numbers? All the bad reports for a few months really hit the PPS even though the analyst saw it coming with the World Cup and debit card scare. Be interesting to see how much the investment firms increased their positions.
Sterne Agee says that in the first 11 days of August, total revenues coming from casinos here reached 10.4 billion patacas, meaning a 1 percent drop compared to the same period last year. The brokerage noted that the performance is in line with ‘cautious near-term investors’ expectations, though near-term trend remains unexciting’. Sterne Agee predicts that revenue growth in August could fall into a -3 to +2 percent interval year-on-year, still one of the most optimistic outlooks already released.
One bright spot is that investors sort of gave up on Macau now and just expect negative headlines, if you look at Mpel you can see the free fall and how long it's been going on and since march the entire sector now has been falling and this bold well I think especially for MGM as investors have been selling them all down while MGM and Vegas are really doing quite well.
MGM's biggest problem from what I gather is managements lack of interest in attacking the debt.