Revenues at Macau's casinos fell 3.7% year over year in June, and investors are pouncing on gaming stocks following some sharp drops in share prices this year.
With revenues falling to 27.2 billion Macau patacas ($3.4 billion U.S.), most likely due to a huge decline in VIP revenue, the slowdown in Macau's gaming growth has been a boon for investors looking to jump in. Wynn Resorts (NASDAQ:WYNN), Las Vegas Sands (NYSE:LVS), Melco Crown Entertainment (NASDAQ:MPEL), and MGM Resorts International (NYSE:MGM) -- the parent companies of Macau's casinos -- all saw gains recently due to bad news from the "Asian Las Vegas."
In this segment of The Motley Fool's Where the Money Is, consumer-goods editor Mark Reeth and analyst Michael Finarelli discuss whether it's a good time to gamble on Macau's casinos.
You can't afford to miss this
"Made in China" -- an all too familiar phrase. But not for much longer: There's a radical new technology out there, one that's already being employed by the U.S. Air Force, BMW and even Nike. Respected publications like The Economist have compared this disruptive invention to the steam engine and the printing press; Business Insider calls it "the next trillion dollar industry." Watch The Motley Fool's shocking video presentation to learn about the next great wave of technological innovation, one that will bring an end to "Made In China" for good. Click here!
Mark Reeth has no position in any stocks mentioned. Michael Finarelli has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.