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J.P. Morgan: Forecasts that Macau's gambling revenue in February will be between 18.3 billion to 19.4 billion Macanese Patacas. Recommends GALAXY ENT and others.
JPMorgan released a Research Report forecasting that Macau's gambling revenue in February will range between 18.3 billion and 19.4 billion Macau patacas, reflecting a year-on-year decline of 1% to an increase of 5%. The bank believes that this year's total gambling revenue may only record low single-digit growth, currently predicting a year-on-year increase of 2%. It continues to list GALAXY ENT (00027) as the industry’s top choice.
Macquarie: It is expected that the total gambling revenue in February will be between 18.5 billion to 19.3 billion patacas. The preferred choice in the industry is GALAXY ENT.
Macquarie has released a Research Report stating a "Outperform Market" rating for GALAXY ENT (00027) and SANDS CHINA LTD (01928), with Target Prices set at HKD 48.8 and HKD 25.8 respectively. Currently, Macquarie's industry preference is for GALAXY ENT, and the attractiveness of SANDS is gradually improving as the impact of renovations diminishes. The firm analyzed the Macau Gambling market using third-party data and expects total gambling revenue in February to be between 18.5 billion and 19.3 billion patacas, implying a year-on-year decline of 1%-3% in gambling revenue for the first two months. The Macquarie Research Report indicates that third-party data shows the average daily gambling revenue in Macau last week was 7.
Macquarie estimates that total Gambling revenue in February will be between 18.5 billion and 19.3 billion Macau patacas, with GALAXY ENT (00027) being the industry preferred choice.
Give GALAXY ENT (00027) and SANDS CHINA LTD (01928) a "Outperform the Market" rating, with Target Prices of HKD 48.8 and HKD 25.8 respectively.
【Brokerage Focus】Soochow Securities (Hong Kong) maintains a "Buy" rating on WYNN MACAU (01128), indicating that the company's Q4 2024 performance exceeded expectations.
Jingwu Financial News | Soochow Securities (Hong Kong) released a Research Report indicating that WYNN MACAU (01128) achieved gaming revenue of 0.93 billion USD in Q4 2024, recovering 74.7% compared to the same period in 2019. Among them, VIP and mass market (including slot machines) achieved gaming revenue of 0.16 billion and 0.76 billion USD respectively, with quarter-on-quarter growth of 15.3% and 3.9%. The recovery levels returned to 29.7% and 110.1% of Q4 2019, with recovery degree increasing by 4.4 percentage points and 3.6 percentage points quarter-on-quarter. During the same period, under the Gaming Inspection Bureau's criteria, the industry VIP and mass market (including slot machines) recovered to 43.3% and 109.0% respectively, with recovery degree increasing by 1.
Major brokerage rating | Macquarie: Slightly raises the Target Price for WYNN MACAU to HKD 8.7, with last season's performance exceeding expectations.
Macquarie published a Research Report indicating that due to a win rate higher than the average level, WYNN MACAU's revenue for the fourth quarter of the 2024 fiscal year increased by 1.3% year-on-year, while adjusted EBITDA decreased by 1.4% year-on-year, both exceeding the bank's expectations by 5% and 11% respectively. Macquarie noted that both hotels under WYNN MACAU have launched smart gaming tables, and management believes this will help improve operational efficiency. Notably, for the fourth quarter of the 2024 fiscal year, the daily operating expense running rate increased by 1.2% year-on-year, and the bank expects WYNN MACAU's management to continue to strictly control operating costs to maximize profit margins. Additionally, Macquarie will adjust WYNN MACAU's revenue for the 2025 fiscal year.
Wynn Macau's Q4 Pre-Tax Earnings Fall
