Market Overview

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

Share:
Related MGM
VIP Gamblers Push Down Macau's December Numbers
Vegas Gaming Slumps In November, Strip Continues To See Impact From Shooting
Macau sector on watch after favorable Morgan Stanley outlook (Seeking Alpha)
Related WYNN
What Is Melvin Capital, And What Does It Want With Electronic Arts?
VIP Gamblers Push Down Macau's December Numbers
Macau sector on watch after favorable Morgan Stanley outlook (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
Nov 2017NomuraMaintainsBuy
Nov 2017JP MorganMaintainsOverweight
Oct 2017Roth CapitalInitiates Coverage OnBuy

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!