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
GAT EXPO CARTAGENA 2026
24 de March 2026
Gamification with Purpose: Andrés Blanco Explains How to Drive Real Engagement at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- At GAT Expo Cartagena 2026, one of Latin America’s most important gaming industry events, Andrés Blanco, Managing Director and Chief Product Officer at Gamanza Engage, shared his vision of how gamification can become a strategic tool to foster genuine user engagement.
Monday 30 Mar 2026 / 12:00
Nevada’s Regulatory Model, Taxation Challenges and Prediction Markets Take Center Stage at GAT Expo Cartagena
(Cartagena de Indias, SoloAzar Exclusive).- During a high-level fireside chat at GAT Expo Cartagena 2026, Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, and Rodrigo Afanador Carrasco, CEO of Zamba and General Manager of Grupo Vicca, explored key regulatory challenges shaping the global gaming industry, with a particular focus on Latin America.
Monday 30 Mar 2026 / 12:00
GAT Expo Cartagena 2026 came to an end after a resounding success
(Cartagena de Indias).- With this closing, GAT Events continues its remarkable 2026 circuit with upcoming stops in Mexico City, São Paulo, San Juan, Bogotá and Santo Domingo, consolidating its presence as a B2B platform for the development of the legal gaming business in Latin America and the Caribbean.
Friday 27 Mar 2026 / 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.