Macau Casinos Suffer for Third Straight Month

Shares of Macau-centric casinos such as Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) fell on reports of weaker-than-expected Macau gambling revenue for Aug.

Sterne Agee slashed earnings estimates on both casino companies as well as on MGM Resorts Int'l (NYSE:MGM) and Melco Crown Entertainment (NASDAQ:MPEL).

Sands shares fell 5.1% to 63.10. Wynn fell 4.1% to 185.05. MGM fell 2.6% to 23.83.

Source: Investors.com