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Sunny day in Hong Kong sets up Melco Resorts

Published 05/23/2017, 09:20 AM
© Reuters.  Sunny day in Hong Kong sets up Melco Resorts
  • Melco Resorts & Entertainment (NASDAQ:MLCO) is higher in early trading after the Macau sector saw an upbeat day in Hong Kong off of new revenue forecasts.
  • Nomura came in with an estimate of 15% to 17% Macau revenue growth in May to follow closely on a strong outlook from Aegis Capital. The firm thinks some of the concerns on regulations cutting off growth are overstated.
  • Galaxy Entertainment (OTCPK:GXYEF) was up 4.01% in Hong Kong today, while Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN) rose 3.02%. Melco International Development (OTC:MDEVF) ripped an 8.89% gain.
  • U.S-traded MLCO +2.31% premarket to $22.55.
  • Now read: Top Market News: What Happened In Investing Today


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