Macau casino revenue slumps to 18-month low but Citi sees value stock picks
Friday 01 de April 2022 / 13:38
⏱ 1 min read
(Macau).- Macau gross gaming revenue fell 56% in March to 3.67B patacas ($455M) to slightly trail the consensus estimate for a 55% decrease. Ongoing COVID restrictions and concerns held back traffic during the month.
Gross gaming revenue was down 54% in March from the level seen in February with the lockdowns in Zhuhai and Shenzhen a major factor. The monthly tally was also the lowest in 18 months. Macau GGR was down 24.8% for Q1 on a year-over-year basis.
Citi pushed back its timeline for a lifting of travel restrictions on China and Hong Kong to Q4 from mid-2022, but thinks positive catalysts like the passing of gaming law amendments and the licensing process will support share price gains this year. Within the sector, Citi upgraded Wynn Resorts (NASDAQ:WYNN) to a Buy rating from Hold and maintained a Buy rating on Melco Resorts & Entertainment (NASDAQ:MLCO). Meanwhile, Las Vegas Sands (NYSE:LVS) is called the Global Top Pick in the casino sector. MGM Resorts (MGM) also is rated at Buy due to its strong positioning in the U.S. The thinking is that on post-pandemic assessment, the Macau heavyweights are value plays.
Macau casino stocks: Wynn Macau (OTCPK:WYNMF), Sands China (OTCPK:SCHYY), MGM China (OTCPK:MCHVF), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF), Macau Legend Development Limited (OTCPK:MALDF) and Studio City International (MSC).
In premarket action, Las Vegas Sands (LVS) gained 2.01%, Melco Resorts & Entertainment (MLCO) rose 4.45% and Wynn Resorts (WYNN) added 2.90%.
Categoría:Casino
Tags: Sin tags
País: Macao
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
Martin Ivanov: "Latin America remains one of CT Interactive's key strategic regions"
(Lima, SoloAzar Exclusive).- CT Interactive Chief Operating Officer Martin Ivanov reflects on the company's experience at the Peru Gaming Show, highlights the opportunities emerging in the Peruvian market, and outlines the company's strategic priorities for expanding across Latin America.
Thursday 16 Jul 2026 / 12:00
Regulation and the Black Market in Latin America: Challenges and Solutions
(Lima, SoloAzar Exclusive).– As part of the Peru Gaming Show (PGS) 2026 conferences, gaming industry leaders analyzed one of the main challenges currently facing regulated markets in Latin America: the growth of illegal gambling. The panel "Regulation and the Black Market: Challenges and Solutions" brought together Carlos Fonseca, CEO of Gaming Law, as moderator; Neil Montgomery, founding partner of Montgomery & Associados; Tatiana Vásquez, founding partner of Vázquez Asociados; Karen Sierra Hughes, Vice President for Latin America, the Caribbean, and Spain at GLI; and Vanessa Cabrera, Director of the Control and Sanction Directorate of the DGJCMT-MINCETUR, who debated the causes of the black market, the available regulatory tools, and strategies to strengthen channeling toward legal gaming in the region.
Wednesday 15 Jul 2026 / 12:00
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