MGM China Outperformed the Market in 1Q; the Mansion Will Help MGM Cotai's Ramp Up
MGM China’s first-quarter revenue and adjusted EBITDA are tracking in line with our estimates. We are leaving our estimates unchanged and raise our fair value estimate by HKD 1-HKD 21 per share due to time value of money. We continue to find MGM China undervalued. Thanks to new VIP junket rooms at MGM Cotai, MGM China’s VIP gaming revenue was up 3% in the quarter, outperforming a 13% decline for the wider Macau market, as reported by DICJ. The group’s VIP rolling chip volume was up 1% year over ...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.