Why MGM Resorts International (MGM) Stock Is Up Today

NEW YORK (TheStreet) -- MGM Resorts International (MGM) was gaining 1.2% to $26.71 Monday following a positive note about Macau gaming trends from Nomura Securities.

Average daily table wins were about 886 million Hong Kong dollars for the week ending July 27 according to Nomura analysts Louise Cheung and Harry C. Curtis. That's higher than the daily average of 815 million Hong Kong dollars in the rest of July.

"We believe mass trends remained strong during the week and VIP roll improved but VIP revenues were impacted by below average win rate," the analysts wrote. "We further believe Galaxy and MGM may have held low during the week." The analysts noted that July gaming revenue from Macau could be down between -5% and -2% from the year-ago month, compared to a consensus range of -7% to flat.

Other casinos operating in Macau including Las Vegas Sands (LVS), Melco Crown Entertainment (MPEL), and Wynn Resorts (WYNN) were also gaining from the report according to Barron's.

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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."

If you liked this article you might like

China's Golden Week Holiday Set to Unleash Gambling Explosion

Opposition Party Makes Political Gains in Macau, Changes in Governance Possible

Dow, S&P 500 and Nasdaq at New Records as Promise of Tax Reform Boosts Banks

Stocks Back at Highs as Apple Gains on iPhone 8, iPhone X Release

Tech in Wait-and-See Mode Ahead of Apple Event, Financials Rise on Tax Talk