SJMHY - Macau gaming revenue rose 33% in February to top $1B again

Gross gaming revenue in Macau increased 33% year-over-year in February to 10.3B patacas ($1.3B) to edge past the consensus estimate of analysts. The GGR tally was down 10.8% from the level seen in January, with the timing of the Chinese New Year holiday period a factor in the comparison between the two months. For the first two months of the year, GGR is up 55% from last year's level on much strong traffic trends.

Bank of America forecasts material positive EBITDA revisions for Macau in Q1 and 2023 with the market recovering faster than expected.

"Even modest improvements, driven by airlift to Hong Kong/Macau, reopening packaged tours, improving infrastructure (bus/ferry schedules) and time for e-visas and staffing bottlenecks to be lifted should lead to a further recovery, and mass + direct VIP GGR eclipsing ~90% of 2019 levels by YE 2023," noted analyst Thomas Allen.

Macau casino stocks: Wynn Macau ( OTCPK:WYNMF ) ( OTCPK:WYNMY ), Wynn Resorts ( WYNN ), Sands China ( OTCPK:SCHYY ) ( OTCPK:SCHYF ), Las Vegas Sands ( NYSE: LVS ), MGM China ( OTCPK:MCHVF ) ( OTCPK:MCHVY ). MGM Resorts ( MGM ), Galaxy Entertainment ( OTCPK:GXYEF ), SJM Holdings ( OTCPK:SJMHF ) ( OTCPK:SJMHY ), Melco Resorts & Entertainment ( MLCO ), Studio City International ( MSC ).

Studio City International ( MSC ) has the highest Seeking Alpha Quant Rating score in the casino sector at 4.98.

Las Vegas Sands ( LVS ) has the highest consensus rating from Seeking Alpha authors.

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