The force is still strong



MGM China Holdings

I wrote about Wynn Resorts yesterday, and there was a big move in another ‘Macau’ stock we hold, on Thursday. MGM Resorts leapt 6% after an upgrade from Deutsche Bank, along with rating agency Moody’s.

This is a stock chart

The company’s new resort under development in Macau is set to meet its fourth-quarter deadline for opening, despite the disruption caused by Typhoon Hato, according to a senior executive. This is also going to be a big boost for MGM as revenues in Macau rebound, with a transiting to mass market continuing to play out. We hold MGM China in the Global Opportunities and Asian Managed portfolios.

This is a visualisation for a potential future building project for MGM

In Australia, the market was dead flat on Thursday holding at 5689. Lithium Wynn is riding a Wave

Nasdaq-listed shares of Wynn Resorts have surged to new two year highs over the past week, despite the geopolitical tensions roiling markets and the earlier landfall of Typhoon Halo in Macau in late August impacting the operations of Wynn Macau. As of the close of trading on Tuesday, the shares were up a whopping 55% over the past twelve months. Wynn Resorts is held in the Fat Prophets Global Contrarian Fund, along with the Global Opportunities and US Managed Account Portfolios.

Disclosure: The Fat Prophets Contrarian Fund declares a holding in Wynn and MGM Resorts.

Carpe Diem!

CEO | Fat Prophets
Find out more about Fat Prophets Global Premium Stock Research by registering your details below: