Melco leads rise in Macau gaming stocks on strong April revenue, Labour Day holiday

Melco International Development

02/05/2023 04:49

** Shares of Melco International Development  0200.HK  lead
rise in Macau gaming and resort related shares in China's Labour
Day holiday, rising as much as 3.8% to HK$9.40
    ** Macau's April gambling revenue soared 449.9% YoY to 14.72
bln patacas ($1.82 bln), highest since 22.13 bln patacas in
January 2020
    ** Shares of SJM  0880.HK , Sands China  1928.HK , MGM China
 2282.HK , Wynn Macau  1128.HK  and Galaxy Entertainment
 0027.HK  rise between 1.7% and 2.3%
    ** Hundreds of thousands of mainland Chinese visitors have
descended on Macau for the Labour Day holiday
    ** Jefferies says Macau's casino revenues show strong
improvement as the recovery from COVID continues and ahead of
expectations with April gaming revenue exceeding forecasts
    ** Jefferies says labour holiday seems to be the driver and 
the upward progression is expected to continue
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.4% and the Hang Seng Index  .HSI  climbs 0.3%

($1 = 8.0770 patacas)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))