Wynn Macau, MGM China jump on outlook optimism after results, rivals climb

Sands China

09/02/2023 05:43

** Shares of Wynn Macau  1128.HK  jump as much as 7.1% to
HK$8.91, on course for the biggest daily pct rise since Dec. 8
if gains hold
    ** Wynn Macau's controlling shareholder Wynn Resorts
 WYNN.O  said after it reported its Q4 results that it was
pleased to experience a meaningful return of visitation and
demand in Macau during the recent Chinese New Year holiday
period and is well-positioned for the next phase of growth
    ** MGM China  2282.HK  jumps as much as 9.4% to HK$10.14,
after controlling shareholder MGM Resorts International  MGM.N 
report its Q4 results 
    ** Jefferies maintains "Hold" on MGM China  2282.HK  and
Wynn Macau  1128.HK  but lifts PT of MGM China to HK$9.40 from
HK$4.60, and raises PT of Wynn Macau to HK$9.10 from HK$4.50,
saying their 4Q22 loss is a non-event as the focus will shift to
their positive commentary outlook
    ** Jefferies says 4Q22 EBITDA loss was lower than estimates
for both companies and the focus is a strong start to 2023 with
post-Chinese New Year performing profitably and Macau gaming
revenue remaining above break-even after fully open to all
visitors
    ** Galaxy  0027.HK , Sands China  1928.HK , SJM  0880.HK 
and Melco International  0200.HK  rise between 2.1% and 6.9%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))