Despite remarkable gaming revenue figures this year, shares in Macau's largest casino operators fell dramatically this week.
The Hong Kong stock exchange saw stocks in SJM plummet more than 25 per cent, while MGM China and Galaxy Entertainment also suffered major losses.
It is thought the panic on the stock market is the result of fears that China’s economy may be impacted by a squeeze within the credit markets and faltering property prices. This, analysts suggest, could seriously affect consumer spending and visits to the gambling enclave.
Macau’s casinos saw gaming revenues reach MOP21.24bn ($2.6bn) in September, up from MOP15.3bn in the corresponding month last year.
September’s year-on-year increase was the second lowest of 2011, ahead of January’s 33.2 per cent rise. The enclave’s casinos enjoyed a stellar month in August, with revenues exceeding MOP24.7bn, compared with MOP15.7bn a year earlier.
