The first ten days of December have been strong for gaming revenue in Macao. That has led investment company Sanford Bernstein to project that gaming revenue in Macao will climb 21% to 23% for the month. That would be stronger than expected–and bodes well for continued growth in revenue at companies such as MGM Resorts International (MGM), which is scheduled open a second casino in Macao in the New Year. In a separate action, but one that reflects the same optimism about the continued recovery of gaming revenue growth in Macao, Credit Suisse has bumped up its revenue forecast for the next three years.
MGM Resorts International is a member of my Jubak Picks Portfolio. I hold call options on MGM Resorts in my Volatility Portfolio.
Full disclosure: I own shares and call options on MGM Resorts in my personal portfolios.