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MGM China With Buy Rating

MGM chosen by Stifel Research to be a top pick as they believe that Macau market could grow at a rate of 15 to 20% per year in a short term. The company is hopefuly that the scheduled opening of MGM Cotai in 2016 will increase the level of overall company’s EBITDA from the fastest growing gaming market now.

According to UBS, when the Cotai hotel opens, it will be able to increase the room numbers to 2.7 times and increase the gaming table by 2 folds. MGM China price target is now at HK$36.7 with a Buy rating. Now, MGM stock price is still below its Macau main competitors, Las Vegas Sands (LVS) and Wynn (WYNN).