Melco leads rise in Macau shares on strong Jan gambling revenue growth

Sands China

01/02/2023 06:48

** Melco International  0200.HK  leads gain in Macau gaming
related stocks, rising as much as 6.3% to HK$10.80, and on track
for the biggest daily pct gain since Jan. 20 if gains hold
    ** Macau posted an 82.5% year-on-year rise in gambling
revenue to 11.6 bln patacas ($1.4 bln) in January, after the
world's biggest gambling hub had nearly half a million visitor
arrivals over the week-long Lunar New Year holidays  urn:newsml:reuters.com:*:nL1N34H096
    ** The crowds were the biggest in more than three years, but
January's revenue was still less than half of the Lunar New Year
period in 2019 prior to the COVID-19 outbreak, according to data
released by Macau's government 
    ** January's revenues were the first for Sands China
 1928.HK , Wynn Macau  1128.HK , MGM China  2282.HK , Galaxy
Entertainment  0027.HK , SJM  0880.HK  and Melco under new
10-year contracts
    ** Stocks of Sands China, Wynn Macau, MGM China, Galaxy
Entertainment and SJM rise between 1.8% and 5.1%
    ** The Hang Seng Commerce & Industry Index  .HSNC  jumps
2.2%, the Hang Seng Composite Index  .HSCI  rises 1.2% and the
Hang Seng Index  .HSI  climbs 0.9%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))