Shares in casino companies advanced on Monday after Macau gaming revenues last month topped some analysts' expectations and a rebound in Chinese manufacturing eased concerns about the health of the world’s second most important economy.
Gross gaming revenues in Macau slipped 0.4 per cent in March from a year ago to 25.84bn patacas (about $3.19bn), according to the latest figures from Macau’s Gaming Inspection and Co-ordination Bureau.
While revenues edged modestly lower, they compared to analysts estimates for revenues to stay flat or fall as much as 6 per cent, according to Refinitiv. On a month-on-month basis, revenues were up 1.9 per cent.
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