So what: Early in the month there was concern that China's gaming market may continue its decline in 2016. The Wall Street Journal put out an article highlighting the slowing Chinese economy and corruption crackdown as reasons Macau may not recover for some time. Of course, for those who follow the industry closely, these weren't new facts, they just came front and center once again in January.
One move the MGM Resorts did make was hiring James C. Stewart to run MGM Growth Properties LLC, a real estate investment trust MGM hopes to take public in the near future. REITs have become all the rage in gaming, and MGM is throwing its hat in the ring as well.
Now what: While Macau may not be doing well right now, MGM Resorts has outperformed rivals thanks to its exposure to Las Vegas. It's on The Strip that gaming is actually growing while Macau sinks, so the company is well positioned for investors today. I wouldn't worry about January's dip, and could see it as a buying opportunity. The company is also opening a new resort in Macau, only its second, in the next year or so, and that should bring more cash to the business -- and with Las Vegas going well, the stock should continue to outperform rivals.