MGM China will maintain a technological advantage over its Macau peers throughout the remainder of this year and possibly into 2025 due to its early adoption of smart gaming tables, according to Citibank.
Publishing its 1Q24 results preview on Thursday, the financial services giant also named MGM as its new top pick in Macau and raised its target price on MGM China shares from HK$16 to HK$17 on the expectation it will continue to claim market share.
Citibank also expects MGM, and to a lesser extent SJM Resorts, to be the two companies outperforming in 1Q24 when it comes to quarter-on-quarter EBITDA improvements – even after the former set an all-time record Adjusted Property EBITDAR record in the December 2023 quarter.
