Macau gaming revenue fell 6.1% year-over-year as China cracks down on corruption and declining Chinese housing prices reduced demand from rich VIP customers, according to Reuters.
Gambling revenue from Macau's 35 casinos dropped last month to 28.9 billion patacas, or $3.6 billion, compared to 30.7 billion patacas in the same period one year earlier. Analysts expected a 2% to 6% decline.
More than 9 million shares had changed hands as of 1 p.m., compared to the average volume 4,570,250.
Separately, TheStreet Ratings team rates LAS VEGAS SANDS CORP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate LAS VEGAS SANDS CORP (LVS) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."