MGM Stock Falling on Macau Concerns
Published on:
Mar/09/2015
MGM Resorts International shares were down 3.01% to $20.97 in late morning trading Monday as concerns continue over China’s Macau gambling hub taking a revenue hit.
Gaming revenue is forecast to decline on fears of the impact from a crackdown by the Chinese government.
"Macau is in a tough spot. We believe dividends will be slashed across the board," Zhou, analyst Jamie Zhou of the Hong Kong-based firm Macquarie Securities told Bloomberg.
Other Macau casino stocks down that were down on Monday include Las Vegas Sands (LVS), down by 3.07% to $53.40, Wynn Resorts (WYNN), lower by 3.72% to $131.91, and Melco Crown Entertainment (MPEL), down by 4.55% to $22.01 this morning.
- Aaron Goldstein, Gambling911.com
