Macau casino revenue slumps to 18-month low but Citi sees value stock picks
Friday 01 de April 2022 / 13:38
2 minutos de lectura
(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
iGaming Club Conference Cancun
24 de November 2025
Levon Nikoghosyan Confirms iGaming Cancun’s Success and Future LATAM Expansion
(Cancun, SoloAzar Exclusive).- The vibrant energy of iGaming Cancun has set the tone for a new chapter in the Latin American iGaming industry. Levon Nikoghosyan, CEO and Co-Founder of AffPapa and iGaming Club, shared his enthusiasm for the event’s debut in Mexico, highlighting its impact on the regional market and the company’s ambitious plans for the future.
Thursday 04 Dec 2025 / 12:00
iGaming Club Cancún 2025 Concludes Successfully with Strong Connections in Its First LatAm Edition
(Cancun, SoloAzar Exclusive).- iGaming Club Cancún 2025 came to a close last night with a comprehensive experience of conferences, networking, and the AffPapa iGaming Awards LATAM gala, consolidating itself as a unique space for operators, affiliates, and providers in the region.
Thursday 27 Nov 2025 / 12:00
iGaming Club Cancún 2025: Affiliates, Operators, and Innovation Take Center Stage on Final Day
(Cancun, SoloAzar Exclusive).- The second and final day of iGaming Club Cancún 2025 unfolds today, bringing together operators, affiliates, and select B2B providers in a unique networking and conference environment that highlights the evolving dynamics of the Latin American iGaming market.
Wednesday 26 Nov 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.