Hong Kong-traded Macau names moved higher today after JPMorgan issued a positive forecast on Macau revenue trends for March.
JP says the VIP segment is tracking at a high teens growth rate and the mass market segment is up at a low-to-mid teens growth pace. "This would make first-quarter GGR grow 11 percent to 12 percent year-on-year and 3 percent to 4 percent quarter-on-quarter, to the highest level in eight quarters: the sector’s sequential profit expansion story remains intact, in our view," reads the analyst note.
Estimates for March Macau revenue range from 9% to 15%, according to GGRAsia.
Hong Kong: Wynn Macau +3.34%, MGM China +2.01%, Sands China +1.92%, Galaxy Entertainment (OTCPK:GXYEF) +2.07%.
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