Telsey upbeat about Macau casino earnings in Q1

2014-4-28

From：Macau Business

Telsey Advisory Group estimates that MGM Resorts International’s profit will rise to US$648 million (MOP5.18 billion) in the first quarter of this year, 16.2 percent more than a year earlier, our sister publication Business Daily reports.

The stockbroker says it expects MGM Resorts revenue to grow by 13.2 percent to US$2.6 billion, with revenue from mass-market gaming in Macau driving growth.

MGM will deliver its first quarter results on April 29.

Telsey estimates that Melco Crown Entertainment Ltd’s first-quarter profit will rise by 46.7 percent to US$409 million. It expects takings at the City of Dreams casino to help revenue to grow by 14.6 percent to US$1.5 billion.

The broker estimates that Wynn Resorts Ltd’s first-quarter profit will rise by 5.8 percent to US$477 million. It expects Macau earnings to result in growth of 13.2 percent in revenue to US$1.56 billion.

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