Market Overview

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

Related MGM
Macau Losing Streak Extends To 16th Month
Downtown Vegas Gaming Revenue Jumps 15% In August
Is Bad News Good News For Market? Stocks Rally After Weak Start (Investor's Business Daily)
Related WYNN
Casino Names Getting A Boost Amid Word Chinese Government Could Be Moving Back Toward Macau Support
Benzinga's Volume Movers
Wynn soars on China moves (Investor's Business Daily)

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

Sep 2015SusquehannaMaintainsPositive
Jul 2015Gabelli & CoInitiates Coverage onBuy
Jul 2015Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for MGM
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings


Related Articles (LVS + MGM)

View Comments and Join the Discussion!

Get Benzinga's Newsletters