HK Stock Market Move | Gaming stocks fell across the board, with WYNN MACAU (01128) dropping over 6%, as Macau's September gaming revenue missed expectations.

Gaming stocks fell across the board. As of press time, WYNN MACAU (01128) dropped 6.27% to HK$5.005; MELCO INT'L DEV (00200) fell 5.85% to HK$2.665; GALAXY ENT (00027) declined 5.88% to HK$29.76; Sands China (01928) dropped 4.64% to HK$11.3; MGM CHINA (02282) fell 3.22% to HK$9.48. On the news front, Macau's Gaming Inspection and Coordination Bureau announced that September gross gaming revenue was MOP 18.06 billion, down 1.2% year-on-year, missing market expectations of a 2.2% increase, and marking a fourth consecutive month of decline. On a month-on-month basis, it fell 17.5%. For the first nine months of this year, Macau's gross gaming revenue was MOP 187.12 billion, up 3.2% year-on-year. However, Citi noted in a previous research report that October will feature multiple large-scale events and concerts, including Rene Liu, Jane Zhang, Korean boy band Enhypen, and Richie Jen at Galaxy Arena; Sara Landry's "Chapter One" at Londoner Arena; the NBA China Games at Venetian Arena; and Jonathan Lee at MGM Cotai, which are expected to reignite a recovery in gaming revenue.