Tag: MGM Macau Casino Slump
MGM China Leads Macau Casino Slump
January 24, 2014
Bloomberg – MGM China Holdings Ltd. (2282) fell the most in seven months, leading declines among Macau casinos after JPMorgan Chase & Co. cut its rating to neutral and recommended investors trim holdings of rival operators. The operator controlled by MGM Resorts International (MGM) declined 6.6 percent, the most since June 11, to HK$32.65 at the close in Hong Kong trading. Galaxy Entertainment Group Ltd. fell 5.5 percent to HK$76.95. Sands China Ltd. (1928) and SJM Holdings Ltd. (880) dropped 4.1 percent and 2.7 percent, respectively. “We believe the sector is at risk of entering a period where there is…