Market Overview

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

Share:
Related MGM
Downtown Vegas Continues To Outperform The Strip In July
2 Global Gaming Stocks You Might Be Overlooking
Las Vegas traffic increase for July (Seeking Alpha)
Related WYNN
Downtown Vegas Continues To Outperform The Strip In July
Don't Forget About Travel And Leisure Stocks, Investors
Las Vegas traffic increase for July (Seeking Alpha)

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

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