MLCO - Macau recovery starts to take hold with jump in July gross gaming revenue

Macau gross gaming revenue rose 29% month-over-month to 8.44B patacas ($1.05B). The tally for the month was up 528% from the mark a year ago when the casino traffic was heavily impacted by the pandemic, but fell short of the consensus mark for an increase of 540.5%. JPMorgan forecasts that gaming revenue will rise sequentially again in August amid the summer school holiday to reach a post-pandemic high. Year-to-date gross gaming revenue in Macau is 63.9% higher year-over-year to 57.47B patacas ($7.18B). Macau casino stocks: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY), Wynn Resorts (NASDAQ:WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF), Las Vegas Sands (NYSE:LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY). MGM Resorts (NYSE:MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY), Melco Resorts & Entertainment (NASDAQ:MLCO), Studio City International (NYSE:MSC). Macau casino stocks traded lower last week as regulatory risk concerns weighed on sentiment.

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Macau recovery starts to take hold with jump in July gross gaming revenue