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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.
Hong Kong stocks fluctuate | Macau casino stocks generally decline, Macau's gambling revenue in July is slightly weak, and investors are concerned about the impact of crackdown on illegal cross-border funds in Macau.
According to the news from Zhixin Finance App, the gambling stocks generally fell. As of press time, Sands China (01928) fell by 3.29% to HKD 16.46; Wynn Macau (01128) fell by 3% to HKD 6.15; Melco Int'l Dev (00200) fell by 2.65% to HKD 5.14; Galaxy Ent (00027) fell by 1.7% to HKD 34.6. In terms of news, JPMorgan research reports indicate that Macau's gambling revenue recorded MOP 3.85 billion (the same below) in the first seven days of July, or a daily average revenue of MOP 0.55 billion. This means that last week's revenue was lower than the daily average of MOP 0.59 billion in June.
Macao's June Gross Gaming Revenue Lower Than Expected, Macquarie Says
Macao's gross gaming revenue hit 17.7 billion Macanese pataca in June, down 12% sequentially and 26% lower from the comparable 2019 period, Macquarie said in a note published on Tuesday.
Wynn Macau (HKG:1128) Will Be Looking To Turn Around Its Returns
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? When we see a declining return on capital employed (ROCE) in conjunction with a declining
Hong Kong stocks fluctuate | Macau casino stocks all fell, Sands China (01928) fell more than 3%. Macau's gambling revenue in June was lower than expected.
According to the Zhitong Finance and Economics APP, Macau casino stocks are all falling. As of press time, Sands China (01928) fell 3.06%, reporting HKD 16.46; Galaxy Entertainment (00027) fell 2.33%, reporting HKD 35.6; Wynn Macau (01128) fell 2.02%, reporting HKD 6.3; and MGM China (02282) fell 1.71%, reporting HKD 12.68. On the news front, the Macau Gaming Inspection and Coordination Bureau announced that the gross gambling revenue for June was MOP 17.694 billion, a year-on-year increase of 16.4%, lower than market expectations; a month-on-month decrease of 12.4%, the lowest single since this year.
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