Gaming companies with Macau exposure were trending down Wednesday, as the Street digested recent news that casino revenue in the former Portuguese colony fell 3.6 percent last month.
Deutsche Bank's Carlo Santarelli cut his third-quarter forecast for total Macau gaming revenue Wednesday and now sees a 0.9 percent decline to $11.1 billion for the period.
Revenue from high rollers, or so-called VIP revenue will fall more than 10 percent to $6.5 billion, Santarelli said in a note.
Macau's July revenue decline, posted Friday, follows similar results in June when analysts suggested the World Cup played a role in diverting tourists.
But the lack of a July bounce-back may suggest an economic slowdown in China and growing competition in the Philippines played a larger role.
Las Vegas Sands recently traded down 3.6 percent. Wynn Resorts fell nearly three percent, while MGM was down 2.5 percent. SJM dropped 0.75 percent.
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