Based on channel checks by Wells Fargo average daily revenue at Macau casinos dropped between 17% and 21% to between MOP 900 million and MOP 950 million from MOP 1.14 billion in March. The lower revenue is likely a result of "inclement weather."
Wells Fargo now expects lower gaming revenue in Macau. Analyst Cameron McKnight wrote "Our Q2 Macau estimates are based on 15.5% yr/yr growth for April and Q2 market growth of 14.2%, down from 19.8% growth in Q1."
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TheStreet Ratings team rates MGM RESORTS INTERNATIONAL as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate MGM RESORTS INTERNATIONAL (MGM) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."