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Market Chatter: Tencent Launches Palm Payments in Macau
GALAXY ENT: Interim Report 2024
Macau casino stocks are weak across the board, with MGM China (02282) falling 2.57%. Citigroup lowered its September gambling revenue forecast.
Golden Horse Financial News | Macau casino stocks are weak across the board, with MGM China (02282) down 2.57%, Melco Int'l Dev (00200) down 2.02%, Wynn Macau (01128) down 2.01%, Sands China (01928) down 1.87%, and Galaxy Ent (00027) down 1.38%. On the news front, Citigroup's report stated that based on industry data, Macau's gambling revenue for the first 8 days of September may reach around 4.75 billion Macau patacas. The implied daily gambling revenue for this period is around 0.594 billion Macau patacas, a decrease of about 6% compared to the daily gambling revenue of around 0.635 billion Macau patacas for the last 13 days of August.
Macau casino stocks continue to decline, Melco Int'l Dev (00200) fell more than 4%, and Societe Generale lowered its forecast for Macau gambling revenue for the next two years.
Macau casino stocks continue to decline. As of the time of writing, Melco Int'l Dev (00200) fell 4.62% to HKD 3.92; Wynn Macau (01128) fell 3.67% to HKD 4.99; Sands China (01928) fell 3.05% to HKD 13.36.
Galaxy Entertainment (00027) fell by 26.60%, now at 28.500 yuan, hitting a 52-week low.
As of 11:48, Galaxy Entertainment (00027) fell 26.60% from the previous closing price to HKD 28.500, hitting a new 52-week low; volume was 6.6124 million shares, and the turnover was HKD 189.338 million.
Macau Gaming Revenue Rises 15% in August
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