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Macau sector rallies off strong June GGR print, new trade talks

Jul. 01, 2019 8:08 AM ETLVS, MGM, WYNN, MLCO, MSCBy: Clark Schultz, SA News Editor6 Comments
  • Macau casino stocks are higher after gross gaming revenue growth in May of 5.9% to 23.81 patacas ($2.96B) tops the expectations of analysts for a gain of 1% to 2%.
  • For the first six months of the year, Macau GGR was down 0.5% to 149.50B patacas per data from the Gaming Inspection and Coordination Bureau.
  • Investors also have their eyes this morning on the resumption of trade talks between the U.S. and China, a positive development for the sector.
  • Wynn Resorts (NASDAQ:WYNN) is 5.48% higher premarket, while Las Vegas Sands (NYSE:LVS) is up 4.16% and Melco Resorts & Entertainment (NASDAQ:MLCO) is showing a 3.32% gain. MGM Resorts (NYSE:MGM) and Studio City International (NYSE:MSC) are both about 2.20% higher.

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