Macau Gaming On Pace for Record Month (WYNN, LVS, MPEL, MGM)

Analysts at Citi said Macau gaming is on pace for a record month in March. The firm note, checks show gaming revenue in Macau has reached ~MOP 7.5bn in the first 16 days of March 2010, up 58% from last year. Year-to-date, gaming revnue is up 66% from last year the firm notes. If the current run-rate continues, Macau's gaming revenue could reach a new high at ~MOP 14.5bn.

The firm said SJM is the only winner in terms of market share gains for the month. The firm said it appears that Wynn, MGM and Melco-Crown have lost 1ppt each in market share in March so far versus February.

The firm's top Buys in Macau are Sands China (1928.HK) (NYSE: LVS), Galaxy (0027.HK), MPEL (Nasdaq: MPEL) and Melco (0200.HK), and SJM (0880.HK).

Top Sell in Macau is Wynn Macau (1128.HK) (Nasdaq: WYNN) and they also have a Sell rating on MGM Mirage (NYSE: MGM).

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