Gaming stocks have continued to rise recently. As of press release, Wynn Macau (01128) rose 7.3% to HK$6.76; Aobo Holdings (00880) rose 5.86% to HK$3.07; and MGM China (02282) rose 5.05% to HK$12.48.
The Zhitong Finance App learned that gaming stocks have continued to rise recently. As of press release, Wynn Macau (01128) rose 7.3% to HK$6.76; Aobo Holdings (00880) rose 5.86% to HK$3.07; MGM China (02282) rose 5.05% to HK$12.48; and Sands China (01928) rose 4.38% to HK$20.
According to the news, according to reports, Zhang Jianzhong, chairman of the Macau Chamber of Tourism and Chairman of the Hotel and Tourism Chamber of Commerce, said that judging from the operating conditions of the tourism industry this year, the industry has full confidence in the “Eleventh” Golden Week market. Currently, the reservation rate for traditional hotels in the new port area is close to 80%. Room rates are basically the same as in the same period in 2019. Travellers generally book two to three nights, and stay longer. As the holidays approach, reservation data will increase. During Golden Week, the average number of daily visitors is expected to be 0.1 million or more, and the hotel occupancy rate is expected to exceed 90%.
According to Citigroup Research, Macau Casino Hotel and Casino had strong reservation performance during the National Day Golden Week. Preferred stocks included Galaxy Entertainment, with a target price of HK$62.5; Sands China, with a target price of HK$24.7. The bank said that in addition to strong bookings, many midfielders even booked earlier than during the Lunar New Year period. The bank quoted one of the operators as saying that it is estimated that the total gaming revenue during the National Day Golden Week holiday will average about MOP 0.9 billion per day, which will be basically in line with the performance of this year's Lunar New Year Golden Week and Labor Day holidays. The bank also remains optimistic about the demand from Macau casino midfielders.