Bernstein reports that its checks indicate that Macau's gross gaming revenue for the first ten days of April was weaker than expected and that GGR will drop 11%-14% year-over-year this month. The firm says that the Macau gaming industry "will remain volatile over the near-term," but it continues to believe that the sector can grow, driven by increased revenue from non-VIP gamblers. The firm identifies Melco Crown (MPEL) as one of its top picks in the space, and keeps a $23 price target and Outperform rating on the stock. Other Macau casino owners include Las Vegas Sands (LVS), Wynn Resorts (WYNN), and MGM Resorts (MGM). .

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