While gaming revenue grew 9.3% for the Chinese casinos to $4.05 billion, they missed the 13% to 15% growth expected by analysts surveyed by Bloomberg.
Casinos were concerned about a loss in profit after the Chinese government seized UnionPay cards back in May, which were being used to bring money into Macau illegally. The cards are a form of mobile currency used in casinos.
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Separately, 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."