Strong Gaming Revenue per Table per Day at MGM Cotai; Maintaining MGM China’s FVE at HKD 24
We are maintaining narrow-moat MGM China’s fair value estimate at HKD 24 per share and believe the shares are fairly valued. Encouragingly, MGM Cotai’s mass revenue per table per day in the first 47 days of its opening was strong at approximately HKD 64,500, already at 67% of MGM Macau’s HKD 96,300 in the full quarter. MGM Cotai’s VIP turnover per table per day was approximately HKD 3.6 million, 60% of MGM Macau’s HKD 5.9 million, as MGM Cotai only has direct VIP. Therefore, we are confident tha...MGM China Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the development and operation of casino games of chance and other casino games and the related hotel and resort facilities in Macau. Co. operates in one business segment, being the management of casino, hotel and food and beverage operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.