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:MLCO), 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.
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.