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.
Macau casino stocks fall, Sands China (01928) fell 3.18%, Deutsche Bank expects EBITDA growth in the second quarter of the gambling industry to slow down.
Jinwu Financial News | Macau casino stocks fall, Sands China (01928) down 3.18%, Galaxy Entertainment (00027) down 2.33%, Wynn Macau (01128) down 2.33%, Melco Int'l Dev (00200) down 2.07%, MGM China (02282) down 1.71%, SJM Holdings (00880) down 1.14%.
Hong Kong stock market changes | Macau casino stocks rise in the afternoon, June gambling revenue data is coming, Goldman Sachs expects Macau's gambling revenue to gradually recover over the next few months.
Macau casino stocks rose in the afternoon. As of press time, Sands China (01928) rose 4.84% to HKD 16.90; Agtech Holdings (08279) rose 4.17% to HKD 0.20; MGM China (02282) rose 3.42% to HKD 12.70; Wynn Macau (01128) rose 2.38% to HKD 6.44.
Macau casino stocks collectively rise, with Sands China (01928) up 4.84%. Goldman Sachs predicts that Macau gaming revenue will gradually recover over the next few months.
Jinwu Finance | Macau casino stocks rose collectively, with Sands China (01928) rising 4.84%, MGM China (02282) rising 3.75%, Wynn Macau (01128) rising 2.07%, Galaxy Entertainment (00027) rising 1.93%, Melco Int'l Dev (00200) rising 1.9%, and SJM Holdings (00880) rising 1.15%. Goldman Sachs released a report indicating that Macau's June gambling revenue was about 17.7 billion Macau patacas, only 74% of the pre-coronavirus pandemic level, compared to 79% and 78% in April and May, respectively, believed to be due to seasonal weakness and win rates.
Macau's Gross Gaming Revenue Surges 16% in June
Macau's gross gaming revenue surged 16% to 17.7 billion Macanese patacas in June from 15.2 billion patacas in the year-ago period, according to data from the city's Gaming Inspection and Coordination Bureau released recently.
Hong Kong stock abnormal fluctuations | Macau casino stocks perform poorly, MGM China (02282) falls more than 3%. Forecast for Macau's full-month gambling income has downside risks.
The trend of Macau casino stocks is weak. As of press time, MGM China (02282) fell 3.13% to HKD 12.36; Sands China (01928) fell 1.63% to HKD 16.94; Wynn Macau (01128) fell 0.46% to HKD 6.56.
Hong Kong stock market volatility | Macau casino stocks fell today, Sands China (01928) fell more than 3%, and daily Macau gambling revenue has slowed down.
Today, the shares of Macau casinos fell across the board. As of press time, Sands China (01928) fell by 3.5%, with a price of HKD 17.62. Melco International Development (00200) fell by 3.42%, with a price of HKD 5.65. Wynn Macau (01128) fell by 2.33%, with a price of HKD 6.71.
HK stocks surged with Sands China (01928) up more than 3%, leading the gambling stocks. Morgan Stanley predicts that Macau's June gambling revenue will be between 17.5 billion and 18 billion Macau patacas.
According to the Zhītōng Finance APP, macau casino stocks continued to rise, as of press time, Sands China (01928) rose 3.07% to HKD 18.14; Galaxy Entertainment (00027) rose 2.47% to HKD 39.45; SJM Holdings (00880) rose 2.19% to HKD 2.8; Wynn Macau (01128) rose 1.48% to HKD 6.87. On the news side, it was reported that the director of the Macao Tourism Bureau, Maria Helena de Senna Fernandes, revealed that the number of visitors and consumer data show that the willingness of visitors to visit and consume in Macao continues to rise. It is indicated that temporary data as of May this year show that inbound
In June, the total revenue of Macau's gambling industry is estimated to be between 17.5 billion to 18 billion yuan. MGM China and Wynn Macau are the preferred choices in the industry.
According to a research report released by Morgan Stanley, the preference order for Macau casino stocks is mgm china (02282) and wynn macau (01128), with target prices of HKD18.5 and HKD11 respectively. Both are rated as "shareholding." The next is Sands China (01928), with a target price of HKD26 and a rating of "shareholding." Then there is Galaxy Entertainment (00027), rated as "neutral" with a target price of HKD43. Next is SJM Holdings (00880), with a target price of HKD3.3 and a rating of "neutral." Finally, Melco int'l dev (00200) has a target price of HKD5 and is rated as "reduce."
Wynn Hosts Global Wine Events to Showcase the Best of the Wynn Signature Chinese Wine Awards
The wine events aim to boost the reputation of Chinese wines worldwide and expand the overseas consumer marketMACAO, June 18, 2024 /PRNewswire/ -- On the heels of the recent Wynn Signature Chinese Wi
Macau Gaming Industry Association: Raising the threshold for free snacks will help control costs and have little impact on the revenue of gaming companies.
According to Song Weijie, the chairman of the Macau Gaming Association, raising the threshold for free snacks at casinos may have an impact on the revenue of the casino companies, but it is not expected to be significant.
Goldman Sachs expects Macau's gaming revenue to remain steady in the second quarter and reaffirms its preference for Galaxy Entertainment.
Goldman Sachs released a research report stating that assuming typical seasonal factors, Macau's total gambling revenue (GGR) for the second quarter of 2024 is expected to remain flat on a quarterly basis. The shares of Galaxy Entertainment (00027) and Melco Resorts and Entertainment will increase, while MGM China (02282) and Wynn Macau (01128) will decline. Sands China (01928) and SJM Holdings (00880) are relatively stable, but it is believed that after the bottom rebound of Silver Entertainment by 20% in early May, the potential sustainable market share of 20% gambling revenue has not been fully reflected. The bank reiterated that Silver Entertainment is its preferred choice in the casino industry.
Institutions Along With Public Companies Who Hold Considerable Shares InWynn Macau, Limited (HKG:1128) Come Under Pressure; Lose 3.7% of Holdings Value
Key Insights Significant control over Wynn Macau by public companies implies that the general public has more power to influence management and governance-related decisions Wynn Resorts, Limited own
Goldman Sachs: maintaining a "neutral" rating for Wynn Macau, with a target price of HKD 9.6.
Goldman Sachs released a research report stating that after a 11% pullback in share price last month, Wynn Macau (01128) is expected to see its market share drop to 13.3%. Its valuation relative to EBITDA for the second quarter of 2024 is about 9 times. In comparison, MGM China (02282) is about 9 times, Sands China (01928) and Galaxy Ent (00027) are 10-11 times. It is believed that Wynn Macau will still be a contributor to market share in the short term, maintaining a "neutral" rating with a target price of HK $9.6. The company announced a revision of its existing dividend policy at the end of last month, and the board of directors should meet every six months.
Goldman Sachs: Maintains a "neutral" rating on Wynn Macau (01128), with a target price of HKD 9.6.
Goldman Sachs predicts a dividend per share of $0.08 this year, rising to $0.2 in fiscal year 2025.
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