Macau Casino Shares Rise Most This Year on Improved VIP Outlook
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Macau casino operators rallied the most since December on signs that the world’s largest gaming hub is weathering a slowing Chinese economy and a pullback by high rollers may be easing.
A Bloomberg Intelligence index of Macau casino shares climbed as much as 7% in early Hong Kong trading Tuesday, after data showed gross gaming revenue in the enclave grew for a second straight month. JPMorgan Chase & Co. analysts said the data was “surprisingly strong,” while Deutsche Bank upgraded its ratings on Galaxy Entertainment Group Ltd. and MGM China Holdings Ltd.