Wynn Macau at 3-month peak after strong results; rivals climb

Sands China

08/02/2024 07:24

** Shares of Wynn Macau  1128.HK  rise as much as 3.7% to
HK$6.80, their highest since Nov 10 
    ** Stock on course for a sixth consecutive session of gains,
if trend holds
    ** Wynn Macau's parent Wynn Resorts  WYNN.O  beat estimates
for fourth-quarter profit on Wednesday, as strength in gaming,
luxury retail and hotel bookings drove steady demand at its
Macau properties
    ** Co's board announced a dividend of $0.25 per share
    ** HSBC raises Wynn Macau's target price to HK$9 from
HK$8.90  
    ** Shares of rivals also climb, with MGM China  2282.HK ,
Sands China  1928.HK , Melco  0200.HK , SJM  0880.HK  rising
between 0.4% and 5.7%. Galaxy  0027.HK  slips 0.2%
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 1.5%,
Hang Seng Index  .HSI  down 1.2%
    ** Shares of Wynn Macau up 4.9% YTD, as of last close  

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