Market Overview

Citi Highlights Macau Gambling Revenue At or Near Record Highs for Second Time in Two Months

Related MGM
FBR Says Macau Valuations Are 'Starting To Look Interesting'
Casino ETF Keeps Landing On Red
Related WYNN
Wells Fargo Downgrades Casinos; Odds Getting More Uncertain
#PreMarket Primer: Wednesday, September 17: NFL Faces Pressure From Sponsors Due To Domestic Abuse Issues
Wynn Shares Rally as Macau Sales Grow (Fox Business)

Citigroup issued a note Tuesday morning suggesting Macau's gambling revenues may reach 30.5B patacas for May, following a record setting 31.3B in revenue for the month of March.

The model behind Citi analyst Anil Daswani's figures assumes an average daily run rate of 954M patacas for the remainder of the month.

Stocks in the Casino & Gaming sector have been outperforming over the last month. Las Vegas Sands (NYSE: LVS) shares are up more than 12 percent, Wynn (Nasdaq: WYNN) shares are up 11.5 percent, Melco Crown (NASDAQ: MPEL) has been up 9 percent and shares of MGM (NYSE: MGM) have rallied nearly 30 percent.

Latest Ratings for MGM

DateFirmActionFromTo
Sep 2014Argus ResearchDowngradesBuyHold
Sep 2014JP MorganMaintainsOverweight
Aug 2014JP MorganMaintainsOverweight

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings

 

Related Articles (LVS + MGM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters