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Macau Casinos Drop as Analyst Says Gaming Fell 19% Last Week

  • Gaming revenue hit as junkets cut gambler loans: Deutsche Bank
  • Reported theft caused junket investor withdrawals: analyst
Updated on

Macau casino shares closed lower in Hong Kong after Deutsche Bank AG said gaming revenue was hurt last week due to a move by junket operators to reduce credit offered to high-end gamblers.

Gross gaming revenue fell 19 percent to 493 million patacas ($62 million) a day last week, or 18 percent below the average so far this quarter, Deutsche Bank AG analyst Karen Tang wrote in a note Wednesday. Junket operators reduced lending after a reported theft at a competitor "prompted others to withdraw deposits from various junkets," Tang wrote.