The Zhitong Finance App learned that gaming stocks were once again under pressure. As of press release, Sands China (01928) fell 2.97% to HK$14.06; Aobo Holdings (00880) fell 2.91% to HK$1.5; Macau International Development (00200) fell 2.75% to HK$3.54; and MGM China (02282) fell 2.04% to HK$11.02.

According to the news, Macau's gross revenue in July fell 8.4% year on year to MOP 20.06 billion, falling year on year for two consecutive months; it rebounded 9.4% from month to month. According to Citi, Macau's gaming revenue in July was lower than the bank's estimate of MOP 21 billion and the market's estimate of MOP 20.8 billion. The drop was mainly due to the impact of typhoon “Hongxia” which hit Hong Kong and Macau from July 26th to 27th. On the last 12 days of July, the average daily gaming revenue implied operating rate reached about MOP 684 million. The bank believes it would have exceeded MOP 700 million without the typhoon. Looking ahead to August, there will be a big concert almost every weekend in Macau. Citi predicts that Macau's gaming revenue will rise back to MOP 23.5 billion in August, an increase of 6% over the previous year.

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