Shares drop as Macau falls short

Shares in US casino operators fell yesterday when the latest gambling figures from Macau fell short of Wall Street expectations.

Overall gaming revenues rose 9.3 per cent from a year earlier to 32.4bn Macanese patacas, or $4.1bn, according to the latest report from the Gaming Inspection and Coordination Bureau.

Analysts on average had expected a rise between 13 and 15 per cent. Since the year’s start, revenues have reached roughly $20.8bn, or 16 per cent higher than level a year ago.

Wynn Resorts fell 4.49 per cent to close at $208.23, Las Vegas Sands dipped 2.57 per cent to $75.44 and MGM Resorts International declined almost three per cent to end the day at $25.83.