Market Overview

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

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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.

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