BUZZ-MGM China leads gains in Macau gaming stocks after May revenue grows

Reuters06-03

** Shares of MGM China Holdings rise as much as 4.6% to HK$14.54

** Stock leads gains among gaming stocks; Wynn Macau

, SJM Holdings , Melco International

, Sands China and Galaxy Entertainment

up between 1.3% and 2.8%

** Macau says

May gambling revenue

rose 29.7% Y/Y to 20.2 bln patacas ($2.51 bln)

** Jefferies says monthly revenue reached a post-pandemic high in May, though at the lower end of elevated expectations

** "With June a non-holiday month, GGR (gross gaming revenue) should sequentially soften" - Jefferies

** UOB Kay Hian maintains "market weight" on the sector saying May GGR met street estimates and is expected to improve in Q2 on the back of supportive visa policies and operators’ attractive packages to drive premium-mass customers

** Hang Seng Commerce & Industry Index surges 2.9%, Hang Seng Composite Index rises 2.7% and Hang Seng Index

adds 2.4%

($1 = 8.0540 patacas)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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