Goldman Sachs released a research report stating that it maintains Galaxy Entertainment's (00027) “buy” rating, with a target price of HK$54.2. The company aims to increase market share, and hopes that government policies can be further broken through to promote the development of Hengqin. Meanwhile, if Thailand passes the IR Act by mid-next year as scheduled, the Group intends to bid for Thai gambling.
Goldman Sachs said that like other Macau Macau shares dragged down by various concerns, although GEG is trying to attract more high-end and high-quality midfielders, its stock price has fallen by about 20% in the past six months. According to the bank's estimates, based on the development trend from October to November, the market share of gaming revenue and EBITDA will rise from 17.5% and 19.8% in the first quarter of this year to 19% and 20.7% in the third quarter, and is expected to increase further to 20.3% and 22% in the fourth quarter.
