{"id":278725,"date":"2023-06-22T14:14:08","date_gmt":"2023-06-22T19:14:08","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=278725"},"modified":"2023-06-22T14:28:46","modified_gmt":"2023-06-22T19:28:46","slug":"macau-june-ggr-could-surprise-lift-related-stocks","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/","title":{"rendered":"Macau June GGR Could Surprise to Upside, Says Analyst"},"content":{"rendered":"

Macau\u2019s June gross gaming revenue (GGR) could potentially surprise to the upside after the May figure reached the highest level since January 2020.<\/p>\n

\"Las
The Venetian Macau. Analysts see strength in Macau stocks and GGR reports. (Image: Bobby Yip\/Reuters<\/em>)<\/figcaption><\/figure>\n

In a new report to clients, Roth MKM analyst Edward Engel said Macau\u2019s GGR report for the sixth month of the year could potentially be a bullish surprise as a recent uptick in coronavirus cases in China wanes. That\u2019s not a stretch when considering concessionaires generated $1.93 billion<\/a> in May GGR despite some COVID-19 headwinds.<\/p>\n

As China’s latest COVID wave continues to fade, we believe June GGR can surprise to the upside as Macau’s rebound continues through June and into July\/August’s peak summer travel season,\u201d wrote Engel.<\/p><\/blockquote>\n

The official June GGR report will be delivered on July 1. Engel believes it will show a 5% month-over-month increase thanks to recent liberalization of visa issuance. Residents of mainland China must obtain a government-issued visa to enter Macau.<\/p>\n

Why Macau June GGR is Important<\/h2>\n

Macau\u2019s monthly GGR reports are among the most widely watched data points in the global gaming industry, but the June update could be particularly noteworthy because it could provide analysts with a sense of how things are shaping for July and August, which are typically two of the busiest months of the year for Macau travel<\/a>.<\/p>\n

\n

On that note, Roth MKM\u2019s Engel is constructive on the outlook for Macau\u2019s gaming revenue in the seventh and eighth months of the year. He\u2019s bullish on Macau stocks at large, including Las Vegas Sands (NYSE: LVS). The parent of Sands China operates five integrated resorts in the special administrative region (SAR).<\/p>\n<\/div>\n

Sands is already one of the leading performers among casino operator equities this year, and Engel isn\u2019t alone in the belief that stock could notch more upside in the second half of 2023. Nearly 74% of the analysts that cover the stock have the equivalent of a \u201cbuy\u201d rating on it, believing it offers potential upside of 22% relative to the consensus price target.<\/p>\n

City of Dreams operator Melco Resorts & Entertainment<\/a> (NASDAQ: MLCO) is another Macau name gaining favor among analysts.<\/p>\n

We like MLCO’s quality non-gaming assets, proven by its recent successful launch of non-gaming events, which should offer the most positive earnings surprise in 2Q23,\u201d wrote Credit Suisse analyst Kenneth Fong in a note earlier this week. \u201cThis should also benefit the company from a mass-driven recovery ahead, while the sustainability of the ability in attracting new players remains to be seen.\u201d<\/p><\/blockquote>\n

Fong highlighted Macau\u2019s summer travel season, second-quarter earnings, and the possibility of China deploying monetary stimulus as potential catalysts for shares of Melco.<\/p>\n

Another Macau Name to Monitor<\/h2>\n

MGM Resorts International (NYSE: MGM) is another Macau operator Wall Street is constructive on. The company owns 56% of MGM China, which controls two integrated resorts in Macau.<\/p>\n

Since the start of the year, the MGM Cotai operator has been one of the best-performing large-cap travel and leisure equities, but there could be more upside in store. Sixty-one percent of the analysts covering the name rate it \u201cbuy\u201d or better, and the stock resides at about 33% below the consensus price target.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau\u2019s June gross gaming revenue (GGR) could potentially surprise to the upside after the May figure reached the highest level since January 2020. In a new report to clients, Roth MKM analyst Edward Engel said Macau\u2019s GGR report for the sixth month of the year could potentially be a bullish surprise as a recent uptick […]<\/p>\n","protected":false},"author":46,"featured_media":219443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nMacau June GGR Could Surprise, Lift Related Stocks<\/title>\n<meta name=\"description\" content=\"Macau June GGR report could be better than expected, lift related equities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau June GGR Could Surprise, Lift Related Stocks\" \/>\n<meta property=\"og:description\" content=\"Macau June GGR report could be better than expected, lift related equities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-22T19:14:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-22T19:28:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1706\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/\",\"name\":\"Macau June GGR Could Surprise, Lift Related Stocks\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg\",\"datePublished\":\"2023-06-22T19:14:08+00:00\",\"dateModified\":\"2023-06-22T19:28:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Macau June GGR report could be better than expected, lift related equities.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg\",\"width\":2560,\"height\":1706,\"caption\":\"The Venetian Macau. Operator Sands China could restart its dividend next year, according to an analyst. (Image: Bobby Yip\/Reuters)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Macau June GGR Could Surprise to Upside, Says Analyst\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Macau June GGR Could Surprise, Lift Related Stocks","description":"Macau June GGR report could be better than expected, lift related equities.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/","og_locale":"en_US","og_type":"article","og_title":"Macau June GGR Could Surprise, Lift Related Stocks","og_description":"Macau June GGR report could be better than expected, lift related equities.","og_url":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-06-22T19:14:08+00:00","article_modified_time":"2023-06-22T19:28:46+00:00","og_image":[{"width":2560,"height":1706,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/","url":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/","name":"Macau June GGR Could Surprise, Lift Related Stocks","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg","datePublished":"2023-06-22T19:14:08+00:00","dateModified":"2023-06-22T19:28:46+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Macau June GGR report could be better than expected, lift related equities.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/VM-1-scaled.jpg","width":2560,"height":1706,"caption":"The Venetian Macau. Operator Sands China could restart its dividend next year, according to an analyst. (Image: Bobby Yip\/Reuters)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/macau-june-ggr-could-surprise-lift-related-stocks\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"Macau June GGR Could Surprise to Upside, Says Analyst"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/278725"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=278725"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/278725\/revisions"}],"predecessor-version":[{"id":278730,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/278725\/revisions\/278730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/219443"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=278725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=278725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=278725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}