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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.
Zhongjin: Expected to see a 17% year-on-year increase in total gambling revenue in Macau this quarter, and MGM China remains the preferred choice.
According to a research report released by CICC, the total gaming revenue of the Macau gaming industry in the third quarter is expected to increase 2% quarterly and 17% year-on-year. The full-year industry EBITDA forecast was lowered by 3%, and the industry EBITDA forecast for next year was raised by 1%. It is expected to return to 90% and 106% of 2019 levels, respectively. The target price for Sands China (01928) was lowered from 32 yuan to 26.8 yuan, based on the Londoner Phase II renovation project or impact on profits. The “outperforming industry” rating for MGM China (02282) was reaffirmed. The latest rankings were MGM China, Galaxy Entertainment (00027), and Melco Entertainment (
Morgan Stanley: Gambling revenue in the second week of July in Macau improved by 15% weekly, with MGM China as the first choice.
According to a research report released by Morgan Stanley, the preference order for Macau casino stocks remains unchanged, with MGM China (02282), Wynn Macau (01128), Sands China (01928), Galaxy Entertainment (00027), SJM Holdings (00880), and Melco Resorts and Entertainment (MLCO.US). The bank pointed out that the casino revenue for the first 14 days of July in Macau was 8.3 billion Macau Patacas (MOP) or 0.593 billion MOP per day. The average daily casino revenue in the second week increased by 15% to 0.635 billion MOP per day due to the gradually increasing summer holiday demand. The bank also mentioned that the European Cup had an impact on Macau in a week of Hong Kong time.
Shareholders in SJM Holdings (HKG:880) Have Lost 70%, as Stock Drops 3.8% This Past Week
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