Macau: has the run come to an end?

[LD]

You won't find any other red ink in the Variance column going back 5 years. Has the great casino gambling boom in Macau reached a tipping point?

The YES arguments...
- Had to end sometime
- China corruption/junket crackdown gathering pace
- China VISA restrictions biting
- China credit, general economic slowdown starting to be felt

The no arguments...
- World Cup one-off impact, August will be back
- Anomaly

Interesting to see what August reveals !