MGM China leads rise in gaming stocks as Macau's May revenue at highest in over 3 years

Sands China

01/06/2023 06:28

** Shares of MGM China  2282.HK  lead rise in Macau gaming
and resort-related stocks, rising as much as 5% to HK$8.45,
highest since May 23
    ** Stock on track for the biggest one-day pct rise since
April 17, if gains hold
    ** Revenue in the world's biggest gambling hub Macau surged
366% to 15.6 bln patacas ($1.93 bln) in May year on year,
bolstered by a national Labour Day holiday that saw hundreds of
thousands of visitors flock to the special Chinese
administrative region
    ** It is the highest since January 2020 when it was at 22.13
bln patacas and that also compared to April's 450% YoY growth at
 14.72 bln patacas  
    ** Shares of SJM  0880.HK , Melco International  0200.HK ,
Sands China  1928.HK , MGM China  2282.HK , Wynn Macau  1128.HK 
and Galaxy Entertainment  0027.HK  rise between 0.1% and 2.5%
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.6%,
while Hang Seng Composite Index  .HSCI  and Hang Seng Index both
add 0.9%



($1 = 8.0840 patacas)

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