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Macau Downturn Hurts Casino Owners

A rough year in Macau's gaming industry has hurt the market's casino owners, as casino stocks fell 40% during the calendar year.

For the year stocks dropped from $HK1.433 trillion to $HK859 billion, a huge drop in numbers. Casino owners Sheldon Adelson, James Packer, and Stanley Ho are the biggest losers in the area. Melcro Crown, which is owned by Packer and Lawrence Ho dropped 35% of its value during the year, while Stanly Ho's SJM Holdings lost 52% of its value. Those numbers pale in comparison to Sheldon Adelson's Sands China drop 40% of its value, dropping $HK208 billion.

Avid readers will remember that we reported Adelson lost $8.9 billion in net worth last year.

Macau as a whole saw revenue drops of 2.6% last year, the first annual decline in profits for the world's alrgest gaming market. The loss is the first since 2009, when the global financial crisis occurred.

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