Goldman Sachs: Macau's gambling revenue last month met expectations. Bullish on Sands China and GALAXY ENT.

Goldman Sachs published a research report stating that Macau's gross gaming revenue decreased by 2% year-on-year last month, reaching 80% of the pre-epidemic level in 2019, which aligns with the expectations of the bank and the market. In the last two weeks of last month, the daily average gross gaming revenue was 0.603 billion Macau patacas, higher than the 0.571 billion Macau patacas in the first 14 days of the month. The gross gaming revenue from the mass market remains steadily at 1.1 times the pre-epidemic level. The report also mentioned that during a senior inspection visit to Macau, it was suggested to promote economic diversification in Macau, better coordinate development in Hengqin with Guangdong Province, and integrate with the Greater Bay Area. The bank maintains its expectation that this year Macau's gross gaming revenue will rise by 8% year-on-year, based on a reduction in cost pressures caused by inflation and competition, leading to more incremental revenue growth.

Sina Hong Kong Stock.Jan 2 02:55 ET

Hong Kong stocks are experiencing fluctuations | Macau Casino stocks extended their decline in the afternoon, with December Macau gaming revenue down 2% year-on-year, slightly below market expectations according to Morgan Stanley.

In the afternoon, Macau Casino stocks fell further. As of the time of reporting, Sands China (01928) fell by 4.07% to 20.05 HKD; GALAXY ENT (00027) dropped by 2.88% to 32.05 HKD; SJM HOLDINGS (00880) decreased by 1.86% to 2.64 HKD; MELCO INT'L DEV (00200) declined by 1.79% to 4.38 HKD.

Zhitong FinanceJan 2 01:54 ET

Macau Casino Revenue Rose 24% in 2024 Despite Soft December Tally

Seeking AlphaJan 1 13:37 ET

Express News | Macau Says 2024 Gambling Revenue up 23.9 Pct From a Year Earlier to 226.8 Bln Patacas

ReutersDec 31 23:58 ET

Express News | Macau Says December Gambling Revenue Down 2 Pct From a Year Earlier to 18.2 Bln Patacas

ReutersDec 31 23:58 ET

Before the New Year's Day, Macau Casino stocks collectively rose, with Sands China (01928) up 2.18% and the average hotel room occupancy rate in Macau increasing to 89.7% in November.

Jinwu Financial News | Before the New Year's Day holiday, Macau Casino stocks collectively rose, with Sands China (01928) increasing by 2.18%, MGM China (02282) rising by 2.16%, and SJM Holdings (00880), GALAXY ENT (00027), and WYNN MACAU (01128) rising over 1%.

Jingwu Financial NewsDec 30, 2024 21:58 ET