Macau Casino Shares Jump on City's Plan to Ease Covid Curbs [BNN Bloomberg (Canada)]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: BNN Bloomberg
A Bloomberg gauge tracking six casino operators surged as much as 8.6% to the highest since Sept. 2021. MGM China Holdings Ltd. and Wynn Macau Ltd. led the gains. The city's plan to move toward reopening is another evidence that the world's second biggest economy is moving fast to dismantle its draconian Covid curbs, a positive catalyst widely expected to help risk assets in weathering recessionary headwinds. Analysts have become increasingly bullish on Macau casino operators. JPMorgan analyst DS Kim said 2023 could be a “year of Macau” as casino operators benefit from license renewals, reopening and cheap valuations. The sector is expected to see a full recovery in 2024 as earnings growth normalizes, Morgan Stanley analysts including Praveen K Choudhary wrote in a note Monday. ©2022 Bloomberg L.P. Top Picks Top Stories Bank of Canada look ahead: Economists expect seventh straight rate hike Eric Nuttall: Despite dropping oil prices, the market is undersupplied Trump
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MGM
Earnings
- 2/13/24 - Beat
MGM
Sec Filings
- 4/11/24 - Form PX14A6G
- 4/9/24 - Form 8-K
- 4/3/24 - Form 4
- MGM's page on the SEC website