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Citi: Maintains forecast of 18 billion yuan total gaming revenue in Macau this November.
The Macau Government Tourism Office expects that the upcoming Macau Grand Prix will attract over 0.4 million tourists.
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: Galaxy Entertainment Group (00027.HK) is the only market share growth Macau gaming company in October.
According to third-party data, Morgan Stanley's research report estimates that Macau's gambling revenue in November is between 16.9 billion yuan and 17.9 billion Macau yuan, equivalent to a year-on-year increase of 5% to 12%, but a monthly decrease of 14% to 19%. SJM Holdings (00027.HK) saw its market share in October rise by 4 percentage points to 21% monthly, making it the only Macau gaming company to record market share growth during this period. Management attributed this to the concert held by movie star Andy Lau during the National Day golden week. The bank pointed out that the trend of gambling revenue in November weakened due to seasonal factors, while the recovery of inbound tourists met expectations. As of November 10th, the number of visitors has exceeded 30 million.
Since the beginning of this year, Macau has received over 30 million visitors, with a 33% year-on-year increase in mainland visitors.
According to the Macau Daily, based on Macau security police data, as of yesterday (10th), Macau has recorded over 30 million arrivals of tourists this year, with a daily average of 0.095 million arrivals, reaching about 87% of pre-epidemic levels in 2019, with 70% of them being mainland tourists. On February 12th (the third day of the new year), the highest daily influx of the year was recorded, reaching 0.217 million arrivals. According to security police data, as of yesterday at noon, Macau's total number of inbound tourists this year has exceeded 30 million, surpassing last year's full-year total of 28.25 million. Among the inbound tourists, mainland tourists account for 70%, as opposed to last year.
Morgan Stanley: Upgrades galaxy ent to "Outperform" with a target price of HK$50.7.
According to a research report released by Morgan Stanley, galaxy ent (00027) experienced a 50% year-on-year increase in mid-term gambling revenue during the October gold cycle, surpassing competitors such as mgm china (02282), mgm resorts international, and wynn macau (01128). In response, the bank slightly raised the target price of galaxy ent by approximately 0.2%, from 50.6 Hong Kong dollars to 50.7 Hong Kong dollars, with a rating of "outperform the market". The report points out that galaxy ent's total gambling revenue has recovered to 71% of the 2019 level, with VIP, mid-term gambling, and slot machine revenue recovering to 17%, 115%, and 104% respectively. In addition, non-gambling.
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