MGM China Holdings Ltd

02282: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$57.40	Physpv	Jgvjjlnx

MGM China Experiences a Solid 2023 Recovery; Market Has Digested Q4 Loss

Jennifer Song

Feb 9, 2023

We think the positive comments today from both MGM China and Wynn Macau should lift the Macao gaming sector as a whole. Our initial take on MGM China's fourth-quarter operating loss is that it is not really meaningful with the market looking ahead to the reopening of Macao and given management's positive outlook. No surprise then that MGM China's share price is up more than 5% in morning trading in Hong Kong to HKD 9.75 despite posting a deeper negative EBITDA of HKD 402 million versus Bloomberg consensus of negative HKD 326 million.

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