Macau December Gaming Revenue Seen Higher by 15% (LVS) (MGM) (WYNN)
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Price: $57.07 --0%
Rating Summary:
18 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Rating Summary:
18 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 1
Trade LVS Now!
December could be a good month for stocks with exposure to Macau gaming, such as Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts Ltd (Nasdaq: WYNN), and MGM (NYSE: MGM). According to a report by Nomura Equity Research, in the first 16 day of December, gaming revenue was higher by 15 percent year-over-year.
The report also noted that checked showed VIP revenue was up 12 to 14 percent, and mass table revenue grew 26 to 30 percent.
"The U.S.-listed gaming stocks' YTD performance still lags that of other travel sectors such as lodging and cruise lines. Given the high beta of this group, we believe that stronger-than-expected VIP growth would provide an important psychological lift to the stocks and that continued growth in the higher-margin mass revenues will drive outperformance in LVS, WYNN, and MGM (all Buy rated)," said analyst Harry C. Curtis.
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The report also noted that checked showed VIP revenue was up 12 to 14 percent, and mass table revenue grew 26 to 30 percent.
"The U.S.-listed gaming stocks' YTD performance still lags that of other travel sectors such as lodging and cruise lines. Given the high beta of this group, we believe that stronger-than-expected VIP growth would provide an important psychological lift to the stocks and that continued growth in the higher-margin mass revenues will drive outperformance in LVS, WYNN, and MGM (all Buy rated)," said analyst Harry C. Curtis.
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