Wynn leads rise in Macau gaming stocks as March revenue at over 3-year high

Wynn Macau

03/04/2023 05:14

** Shares of Wynn Macau  1128.HK  lead rise in Hong
Kong-listed Macau gaming stocks, surging as much as 8.9% to
HK$8.43, highest since March 2
    ** Stock on track for fifth consecutive session of gain;
fourth biggest pct gainer in Hang Seng Composite Index  .HSCI 
    ** Macau government says March gaming revenue up 246.9% YoY
to 12.7 bln patacas ($1.57 billion), highest since January 2020
when it was at 22.1 bln patacas
    ** For the first three months, total gaming revenue jumped
94.9% YoY to 34.6 bln patacas - Macau's Gaming Inspection and
Coordination Bureau
    ** Rivals Melco International  0200.HK , SJM  0880.HK ,
Galaxy Entertainmnet  0027.HK , Sands China  1928.HK  and MGM
China  2282.HK  rise between 4.3% and 7%
    ** Analysts say rising visitors number helps boost gaming
and related segments
    ** Macau government says February visitors arrivals up
143.1% year-on-year to 1.59 million, of which mainland China
visitors jumped 64.8% year-on-year to ~1 mln
    ** Macau says the average occupancy rate of guest rooms in
February went up by 27.5 percentage points year-on-year to 76.1%
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 0.8%,
Hang Seng Composite Index slips 0.5% and Hang Seng Index  .HSI 
eases 0.6%

($1 = 8.0850 patacas)

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