Macau Off to a Strong Start in March - Sterne Agee (MPEL) (LVS) (MGM (WYNN)

March 11, 2013 9:05 AM EDT
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Macau gaming is off to a strong start in March, according to Sterne Agee analyst David Bain.

According to Bain, Macau table-only gross gaming revenue (GGR) is MOP10.7b through March 10. Including slots, March’s full GGR run-rate is MOP34.4b or +~32% YoY.

The firm is maintaining their +14% YoY estimate for March (MOP28.4b), and note their estimate calls for an all-time monthly record.

The firm's top Macau casino operator pick remains Melco Crown Entertainment Limited (MPEL), followed by Las Vegas Sands Corp. (NYSE: LVS). Others "tradable" players in the sector are Wynn (Nasdaq: WYNN) and MGM (NYSE: MGM)

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