MGM China leads gains in Macau gaming stocks after May revenue grows
** Shares of MGM China Holdings 2282.HK rise as much as 4.6% to HK$14.54
** Stock leads gains among gaming stocks; Wynn Macau 1128.HK, SJM Holdings 0880.HK, Melco International 0200.HK, Sands China 1928.HK and Galaxy Entertainment 0027.HK 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 .HSNC surges 2.9%, Hang Seng Composite Index .HSCI rises 2.7% and Hang Seng Index .HSI adds 2.4%
($1 = 8.0540 patacas)
Reporting by Donny Kwok
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