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Hong Kong stock concept tracking | Over 20 million tourists entered Macau this year, Citigroup remains optimistic about gambling revenue forecast for August (including conceptual stocks).
As of August 3rd, the cumulative number of inbound tourists visiting Macau this year has exceeded 20 million, reaching this number two months earlier than last year.
HK stocks surge | MGM China (02282) rose nearly 6%, leading the Macau casino stocks. The daily number of inbound and outbound tourists in Macau hit a record high, and Citigroup remains optimistic about August gambling revenue forecast.
Macau casino stocks rose in early trading, as of press time, MGM China (02282) rose 5.35%, to HKD 11.82; Sands China (01928) rose 3.76%, to HKD 14.9; Galaxy Entertainment (00027) rose 2.4%, to HKD 32.05. Only Melco Int'l Dev (00200) fell 2.04%, to HKD 4.32.
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.
Macau casino stocks rose in the afternoon, with MGM China (02282) up 2.11%. Gambling revenue in July increased by 11.6% year-on-year.
In the afternoon, Macau casino stocks rebounded strongly, with MGM China (02282) up 2.11%, Sands China (01928) up 1.91%, Nagacorp (03918) up 1.06%, and Wynn Macau (01128) and Melco Int'l Dev (00200) following the trend. According to data from the Gaming Inspection and Coordination Bureau of Macau, casino revenue in July increased by 11.6% year-on-year to 18.595 billion Macau patacas, an increase of about 5.1% month-on-month. Macau's gross revenue from lucky gambling in the first seven months of the year increased by 36.7% year-on-year to 132.348 billion Macau patacas.
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.
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