BUZZ-Melco jumps as H1 returns to profit, Macau gambling revenue rise

Reuters
Sep 01
BUZZ-Melco jumps as H1 returns to profit, Macau gambling revenue rise

** Shares of Melco International Development 0200.HK jump 20.1% to HK$6.4, their highest level since May 2023, leading rise in Hong Kong-listed Macau gaming stocks

** Melco stock on track for the biggest one-day pct rise since May 16, if gains hold

** Melco said on Friday its H1 net profit amounted to HK$350.8 mln ($44.91 mln), as compared to net loss of HK$253.2 mln the same period a year ago, with net revenue up 12.4% y/y to HK$19.96 bln

** Macau said on Monday its August gambling revenue up 12.2% y/y to 22.2 bln patacas ($2.76 bln)

** Shares of Macau gaming shares climb with Galaxy 0027.HK, Wynn Macau 1128.HK, SJM 0880.HK, MGM China 2282.HK up between 0.2% and 0.7%, while Sands China 1928.HK slips 0.4%

** Hang Seng Commerce & Industry Index .HSNC surges 3.1%, benchmark Hang Seng Index .HSI rises 2.1%

** YTD, Melco shares up 85.3%, Galaxy rose 24.6%, Wynn Macau surged 33.4%, SJM climbed 8.6%, MGM China jumped 61%, while Sand China down 3.2%

($1 = 7.8113 Hong Kong dollars)

($1 = 8.0460 patacas)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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