- Casino stocks show strength on the open after MGM Resorts (MGM +6.4%) blasts past analyst estimates with its Q1 report.
- Room revenue in MGM's Las Vegas properties improved 13% while key metric REVPAR was up 14%.
- China was as strong as ever for MGM: Revenue +26% Y/Y to $941M and EBITDA +33% to $241M.
- Sector gainers: Melco Crown (MPEL) +3.3%, Wynn Resorts (WYNN) +1.8%, Las Vegas Sands (LVS) +1.7%, Boyd Gaming (BYD) +1.3%, Pinnacle Entertainment (PNK) +1.6%.
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