A drop of this magnitude wasn’t expected this morning in shares of Las Vegas Sands (LVS), but with news to support a selloff, the stock sliced through support levels like a hot knife through butter.

Due to a number of factors that put doubts over whether the company could sustain such potent growth rates, the Macau trade has taken a hit in the past couple of weeks as demonstrated by the weak trading action, but now there is some hard evidence to justify why it has.

According to the newswires, preliminary data released show that December Macau revenue grew by just 32.3% compared to 61.9% in the prior year period and MGM Grand Macau was only able to garner a 2% market share in a weak casino opening.

Gaming stocks with interest in Macau are lower across the board with MGM down by 3.16% to $79.02 and Wynn lower by 2.11% to $107.07, but Las Vegas Sands is particularly taking it on the chin with a 5.25% decline to $95.10 on extremely heavy volume of 3.1 million shares (daily average volume of 2.7 million)

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