Macau's luck running out?

Investor's Business Daily

The long hot streak China's Macau has had may be cooling, JPMorgan Chase said, as growth in the world's top gambling destination slows. MGM Resorts (MGM), Las Vegas Sands (LVS) and Wynn Resorts (WYNN) all fell Wed. on the report. The bank downgraded MGM China, a unit of Las Vegas-based MGM, to neutral from buy, and recommended investors trim positions in other Macau casinos. The report said the market is factoring in more aggressive growth assumptions than may be warranted.

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