macau casino stocks continue to decline. As of the publication, Sociedade de Turismo e Diversões de Macau S.A. (00200) fell by 4.62%, to HKD 3.92; Wynn Macau Limited (01128) fell by 3.67%, to HKD 4.99; Sands China Ltd. (01928) fell by 3.05%, to HKD 13.36.
According to the Wisdom Financial News app, macau casino stocks continue to decline. As of the publication, Sociedade de Turismo e Diversões de Macau S.A. (00200) fell by 4.62%, to HKD 3.92; Wynn Macau Limited (01128) fell by 3.67%, to HKD 4.99; Sands China Ltd. (01928) fell by 3.05%, to HKD 13.36; MGM China Holdings Limited (02282) fell by 3.05%, to HKD 10.18; Galaxy Entertainment Group Ltd (00027) fell by 2.23%, to HKD 28.5.
On the news front, according to a research report by Credit Suisse, the market's excessive concerns about the Macau gambling industry have led to a 6% month-on-month increase in gambling total revenue in August, as well as surprising dividends for macau casino stocks. In addition, the renminbi has appreciated by 3% since July, and hotel bookings during the Golden Week in Macau in October are also quite stable.
Credit Suisse stated that after the macau casino stocks announced their second quarter performance, they lowered their forecast for gambling revenue for fiscal years 2024 and 2025 by 2%, to USD 28.4 billion and USD 29.6 billion, respectively. EBITDA forecast was also adjusted downward by 3% to 4%. Among the companies covered in the industry, five were rated "outperform" and one was rated "hold", and the target price was generally lowered.