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SANDS CHINA LTD (01928.HK) received an increase in shareholding of 1.5 million ordinary shares from Las Vegas Sands CORP and its affiliates, valued at approximately 32.01 million Hong Kong dollars.
On December 20, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on December 20, Las Vegas Sands Corp. increased its shareholding in SANDS CHINA LTD (01928.HK) by 1.5 million ordinary shares at an average price of HK$21.34 per share on December 18, worth approximately HK$32.01 million. After the increase, Las Vegas Sands Corp.'s latest shareholding is 5.828 billion shares, with the good warehouse ratio rising from 71.98% to 72.00%. This Trade involves Other related parties: Irwin Chafetz.
[Brokerage Focus] Under the all-round stimulation of domestic demand policies, the prosperity of the Macau Gambling Sector is expected to further enhance.
Jinwu Financial News | CITIC SEC stated that the December Political Bureau meeting clarified the direction to boost Consumer spending. Considering that the core driving force for Chinese Consumers in high-end Commodity/service consumption stems more from the wealth effect, it is anticipated that, based on the assumption that Real Estate will gradually stop declining and stabilize, the growth rate of Resident consumption in first-tier cities will rebound first. In a horizontal comparison, the institution is Bullish on Macau as it celebrates its 25th anniversary, with Gambling as a "pro-cyclical + high-end Consumption" category, which may become a leading indicator for domestic demand recovery. In terms of Industry, the cumulative GGR data for January to November 2024 is expected to recover to 77% of the level in the same period of 2019.
The Macao Legislative Assembly estimates that next year's Gambling gross income will reach 240 billion Macanese patacas, and it is expected that the commission income of Gambling intermediaries will increase by more than double year-on-year.
The Macau Legislative Assembly's Second Standing Committee released an opinion paper, estimating that Macau will record a gross Gambling revenue of 240 billion patacas next year, which will serve as the main public financial revenue basis for preparing next year's fiscal budget. It is estimated that in the 2025 fiscal year, Gambling tax revenue will reach 84 billion patacas; commission income from Gambling intermediaries will be 0.1 billion patacas, an increase of 2.33 times year-on-year. (js/k)~
[Brokerage Focus] Morgan Stanley: It is expected that total Gambling revenue in Macau will increase by 5% year-on-year in 2025, reaching 238 billion Macau dollars.
Jinwu Financial News | Morgan Stanley's recent Research Reports indicate that the Macau gambling industry is expected to achieve slight but stable growth by 2025. The report estimates that the total gambling revenue (GGR) in Macau will reach 238 billion patacas in 2025, a year-on-year increase of 5%, while the earnings before interest, taxes, depreciation, and amortization (EBITDA) is projected to reach 8 billion dollars, a year-on-year increase of 6%. Although market expectations for the gambling industry are relatively cautious, Morgan Stanley believes that as various gambling companies increase investments in non-gambling sectors and improve service quality, market share and profitability are expected to further enhance. Morgan Stanley believes that although the growth rate is relatively mild.
"Morgan Stanley's latest investment ratings and Target Prices for Macau gaming stocks (table)."
Morgan Stanley issued a research report, listing the investment ratings and Target Prices for the gaming stocks as follows: Stock | Investment Rating | Target Price (HKD) MGM CHINA (02282.HK) | Shareholding | 17 HKD -> 12.2 HKD WYNN MACAU (01128.HK) | Shareholding | 8 HKD -> 6.7 HKD GALAXY ENT (00027.HK) | In line with the market | 39.5 HKD -> 37.5 HKD SANDS CHINA LTD (01928.HK) | Shareholding | 23.5 HKD -> 25 HKD SJM HOLDINGS (00
Morgans adjusts the Target Price for Macau gaming stocks, with Sands China (01928.HK) still being the top choice.
Morgan Stanley published a report, expecting a strong performance in Macau Gambling revenue in the first quarter of next year. The forecast for Macau Gambling revenue in 2025 is 238 billion patacas, which represents a 5% year-on-year growth. However, due to rising reinvestment costs for most Gambling companies, the EBITDA forecast for next year has been lowered by 7% to 8 billion dollars, which is a 6% year-on-year growth. The bank also adjusted the Target Price for Macau Gambling stocks, as detailed in another table, with Sands China (01928.HK) still being the top choice. Morgan Stanley downgraded the rating for Melco Resorts (MLCO.US) from "Shareholding" to "In line with the market." Compared to GALAXY ENT (00027.HK), the bank ...
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