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Galaxy Entertainment Group Limited's (HKG:27) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Hong Kong stocks fluctuate | Macau casino stocks fell in early trading, with slightly lower July gambling revenue than market expectations. The market is concerned about the legalization of gambling in Thailand affecting the Macau gambling industry.
Macau casino stocks fell in early trading. As of press time, MGM China (02282) fell by 4.22%, closing at HKD 11.36; Galaxy Ent (00027) fell by 3.66%, closing at HKD 31.6; Sands China (01928) fell by 2.95%, closing at HKD 14.5; Wynn Macau (01128) fell by 2.9%, closing at HKD 5.7.
Macau casino stocks collectively fell, with Galaxy Entertainment (00027) down 3.66%. Macau gambling revenue in July was lower than market expectations.
Jingu Finance News | Macau casino stocks fell collectively, Galaxy Ent (00027) fell 3.66%, MGM China (02282) fell 3.54%, Wynn Macau (01128) fell 2.9%, Sands China (01928) fell 2.68%, Melco Int'l Dev (00200) fell 1.75%, and SJM Holdings (00880) fell 1.61%. The Gaming Inspection and Coordination Bureau of Macau released the casino revenue for July on Thursday noon, which was MOP 18.6 billion, a year-on-year increase of 11.6%, lower than market expectations. Daiwa also pointed out that the casino revenue in Macau in July was slightly inferior, and the casino revenue in August is expected to be MOP 18.8 billion.
Express News | Macau Says July Gambling Revenue up 11.6 Pct From a Year Earlier to 18.6 Bln Patacas
Soochow Securities (Hong Kong): The market is concerned about changes in market share in the gambling market in the second quarter, bullish on Galaxy Ent (00027), Sands China (01928), etc.
Soochow Securities (Hong Kong) is bullish on Sands China's (01928) performance and expects a turnaround in the third quarter.
Hong Kong stock market turmoil | Macau casino stocks continue to decline, Macau's gambling revenue in July got off to a poor start, and cracking down on illegal "money changers" has affected investment sentiment.
Macau casino stocks continue to decline. As of press time, MGM China (02282) fell by 3.52% to HKD 11.52; Sands China (01928) fell by 2.5% to HKD 15.62; Melco Int'l Dev (00200) fell by 2.4% to HKD 4.89.
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