Wells Fargo Maintains MGM Resorts International(MGM.US) With Buy Rating, Cuts Target Price to $47
Barclays Maintains MGM Resorts International(MGM.US) With Buy Rating, Cuts Target Price to $54
HSBC Research estimates that Macau's gambling revenue in October will be between 21.4 billion and 22.3 billion Macau patacas, showing a preference for Silver Entertainment (00027.HK) and mgm china (02282.HK).
HSBC released a research report indicating that Macau's gaming revenue for the first 13 days of October was 11 billion Macau dollars (hereinafter referred to as "MOP"), meaning an average daily gaming revenue of 0.643 billion MOP over the past week, a 42% weekly decrease. Part of the related performance was due to a decrease in foot traffic after the National Day Golden Week holiday in October, with the drop consistent with a 40% average weekly decline in the second week of October after the Golden Week. When segmented by market, VIP gaming revenue increased by 42% to 44% per month, with VIP win rates ranging from 3.2% to 3.5%; while mass market gaming revenue increased by 38% to 42% per month. The bank predicts that the average daily gaming revenue for the remaining days of October in Macau will range from 0.58 billion to 6.3 billion.
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