The Review-Journal is owned by the Adelson family, including Dr. In a Friday filing, MGM China explained that the new marketing plan is designed to follow the Macao government’s directive to reduce reliance on customers from mainland China, Hong Kong and Taiwan. affiliate recently announced plans to open new marketing offices across Asia to encourage travel to Macao. Wynn climbed $1.42, 1.3 percent, to $113.33, while MGM was down 17 cents, 0.4 percent, to $44.25 a share.

Shares of Sands, which is expected to release its first-quarter earnings later this month, were up $1.27, 2.2 percent, to $58.72 a share in Monday trading. Macao’s Gaming Inspection and Coordination Bureau on Sunday reported a 246.9 percent increase in gross gaming revenue compared with March 2022.įirst-quarter total revenue, $4.28 billion, is nearly double what was collected in the first quarter of 2022 after strong showings in January and February as well as March. “So, we are buyers of WYNN (Wynn Resorts Ltd.), MLCO (Melco Resorts and Entertainment Ltd.), MGM (MGM Resorts International) and LVS (Las Vegas Sands), each rated Overweight.” “Because of this, we think Macao stocks have the best risk-reward of anything in our coverage universe,” he said. Morgan analyst Joe Greff said in a report to investors issued Sunday. “We see the first-quarter 2023 earnings season as not only generating first-quarter upside but, more importantly, setting the stage for the second quarter of 2023 and beyond margin-upside-driven positive earnings revisions,” J.P. (AP Photo/Kanis Leung)Ĭasinos in Macao in March reported their highest gross gaming revenue since January 2020 when the COVID-19 pandemic first began affecting travel and tourism in Asia.Ī New York-based industry analyst said the $1.58 billion in winnings collected in March were higher than expected and a report is advising clients to invest in four casino companies, including three based in Las Vegas.

Highest grossing casino in the world