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MGM China surges as Macau gambling revenue grows on month, rivals up

By Reuters News

** Shares of MGM China 2282.HK jump 7.9% to HK$9.845, their highest level since October 20, leading gain in Macau gaming stocks

** Stock last up 5.6%, on track for the biggest one-day pct gain since June 2; outpacing a 0.2% gain in the benchmark Hang Seng Index .HSI

** Macau says October gross gambling revenue (GGR) down 10% year-on-year to 21.7 billion patacas ($2.69 billion)

** However, it was up 20% month-on-month as compared to 18.1 billion patacas in September

** The 10% October GGR decline in Macau is generally in line with expectation and focus will shift to 2027 earnings visibility and growth prospects - Jefferies

** Stock of rivals surge, with Melco 0200.HK rising 6.3%, Galaxy Entertainment 0027.HK gaining 3.7%, Sands China 1928.HK adding 3.4%

** Shares of Wynn Macau 1128.HK and SJM 0880.HK climb 2.2% and 1.3% respectively


($1 = 8.0810 patacas)

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