Express News | Macau Says November Gambling Revenue up 14.9 Pct From a Year Earlier to 18.4 Bln Patacas
Jefferies Upgrades Wynn Macau (WYNMF) to a Buy
Macau Casino Revenue Is Improving, but the U.S. Election Results Have Clouded the Investor Outlook
Wynn Macau (HKG:1128) Stock Falls 6.6% in Past Week as Five-year Earnings and Shareholder Returns Continue Downward Trend
HK stocks fluctuate | Macau casino stocks generally fell today. Gambling revenue in November may significantly decline month-on-month. Large institutions say retail remains weak.
Macau casino stocks fell today, as of the time of publication, Sands China (01928) fell by 5.11%, closing at HK$19.5; Galaxy Ent (00027) fell by 4.17%, closing at HK$34.45; mgm china (02282) fell by 4%, closing at HK$9.59; wynn macau (01128) fell by 4.06%, closing at HK$5.67.
Morgan Stanley: Latest rating and target price of Macau casino stocks (table). Galaxy Ent (00027) was the only market share growth in October.
Galaxy Ent (00027) saw a 4 percentage point increase in market share in October to 21%, the only Macau gaming enterprise to achieve market share growth during the period. Management attributed this to the concert held by the movie star Andy Lau during the National Day Golden Week.
Morgan Stanley: Upgrades galaxy ent to "Outperform" with a target price of HK$50.7.
Morgan Stanley released a research report stating that galaxy ent (00027) recorded a 50% year-on-year increase in mid-stage gambling revenue during the October gold period, exceeding competitors such as mgm china (02282), mgm resorts international, and wynn macau (01128). In response, the bank slightly raised the target price for galaxy ent by about 0.2%, from HK$50.6 to HK$50.7, with a rating of "outperform the market". The report pointed out that galaxy ent's total gambling revenue has recovered to 71% of the 2019 level, with VIP, mid-stage gambling, and slot machine revenues recovering to 17%, 115%, and 104% respectively. In addition, non-gambling.
Macau casino stocks rose, with Wynn Macau (01128) up 2.52%. Total consumer spending by tourists in the first three quarters increased by 8% annually. However, Goldman Sachs believes that Macau's gambling revenue growth will slow down in the future.
Kin Wu Financial News | Macau casino stocks collectively rise, Wynn Macau (01128) up by 2.52%, Paradise Ent (01180) up by 2.2%, Melco Int'l Dev (00200) up by 1.76%, Sands China (01928) up by 1.66%, MGM China (02282) up by 1.37%. According to statistics from the Macau Special Administrative Region government's Statistics and Census Service, total consumer spending by tourists in the first three quarters of 2024 increased by 8% year-on-year to 56.21 billion Macau patacas, mainly driven by a significant 30.1% growth in tourist arrivals in the first three quarters compared to the same period last year. Among these, total consumer spending by overnight tourists and non-overnight tourists
[Brokerage Focus] Soochow Securities (Hong Kong) maintains a 'buy' rating on Wynn Macau (01128), indicating that its third-quarter performance is below expectations.
King's Financial News | Soochow Securities (Hong Kong) issued a research report, stating that wynn macau (01128) 3Q24 performance fell short of expectations, achieving operating income of 0.87 billion US dollars during the period (lower than the consensus expected 0.89 billion US dollars), recovering to 81.2% of the same period in 2019; The company's adjusted property EBITDAR for 3Q24 was 0.26 billion US dollars, a decrease of 6.2% compared to the previous quarter, recovering to 87.3% of 2019, with profit recovery speed faster than revenue recovery speed. The bank pointed out that 3Q24 achieved a gaming revenue of 0.88 billion US dollars, recovering 70.4% from the same period in 2019. Among them, VIP/mass market (including slot machines) revenue
Hong Kong stock announcement: Yuexiu Property's subsidiary successfully won the Gondudu Temple site in Haidian District, Peking with 6.3825 billion yuan.
Guoquan (02517) plans to repurchase H股 using up to 0.1 billion Hong Kong dollars.
Wynn Macau Downgraded to Hold From Buy at HSBC
Daiwa: Wynn Macau rated as "shareholding", with a target price of 8 Hong Kong dollars.
Morgan Stanley released a research report stating that Wynn Macau (01128) underperformed expectations in the third quarter, with property EBITDA at 0.263 billion US dollars, a 6% quarterly decrease, lower than the bank's and market expectations. This was due to a mere 10 basis points increase in market share and an 8% quarterly drop in retail rents. However, management noted a 30% year-on-year increase in Golden Week betting volumes, and the bank believes the current company valuation is attractive, with a target price of 8 Hong Kong dollars and a 'shareholding' rating.
Daiwa: Recommends to "shareholding" rating for Wynn Macau (01128), with a target price of 8 Hong Kong dollars.
Da Ma believes that wynn macau is currently attractively valued.
Hong Kong stocks | Wynn Macau (01128) fell more than 4% in the afternoon, with Citigroup pointing out that its third-quarter performance was slightly below expectations.
Wynn Macau (01128) fell more than 4% in the afternoon, as of the time of publication, it fell by 3.69%, closing at 6 Hong Kong dollars, with a turnover of 98.1944 million Hong Kong dollars.
Wynn Macau (01128) adjusted property EBITDAR in the third quarter increased by 22.7 million US dollars
Jingu Financial News | Wynn Macau (01128) announces Wynn Resorts, Limited's third-quarter 2024 performance. Wynn Macau and Encore Boston Harbor's operating income in the third quarter of 2024 increased by $56.9 million and $3.7 million respectively compared to the third quarter of 2023, while Las Vegas operations and Wynn Palace decreased by $11.8 million and $5 million respectively. Wynn Macau and Encore Boston Harbor's adjusted property in the third quarter of 2024
Wynn Macau Updates on Parent's Financial Results
Wynn Macau's Parent Company Reports Q3 2024 Financials
Wynn Macau (01128.HK): Wynn Macau's operation income for the third quarter was $0.352 billion.
November 5th, Glory Media: Wynn Macau (01128.HK) announced that its major shareholder, Wynn Resorts, Limited, released the third-quarter performance for 2024. Wynn Macau and Encore Boston Harbor saw an increase in operating income in the third quarter of 2024 compared to the same period in 2023, with $56.9 million and $3.7 million respectively, while the Las Vegas business and Wynn Palace saw a decrease of $11.8 million and $5 million respectively. Wynn Macau and Encore Boston Harbor in 2024 third quarter
Macau Gaming Revenue Jumps 6.6% in October, Beats Estimates
Express News | Macau Says October Gambling Revenue up 6.6 Pct From a Year Earlier to 20.8 Bln Patacas