Stock Track | MGM China Plummets 5% Intraday After Morgan Stanley Downgrade Amid Macau Gaming Revenue Shortfall

Stock Track01-05

MGM China's stock plummeted 5% intraday on Monday, reflecting investor concerns following a downgrade by Morgan Stanley and weaker-than-expected gaming revenue in Macau.

Morgan Stanley downgraded MGM China to "Equal-weight" due to its significant underperformance in December, despite a potential short-term rebound opportunity. The firm noted Macau's December gaming revenue fell short of market expectations, with MGM China being a notable laggard in the sector.

The broader Macau gaming sector also faced pressure, as December's gross gaming revenue (GGR) of MOP 20.89 billion missed forecasts, partly due to an abnormally low VIP win rate. This context further weighed on MGM China's stock performance.

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