Gaming stocks rose collectively. As of press release, MGM China (02282) rose 3% to HK$9.26; Galaxy Entertainment (00027) rose 2.07% to HK$41.9; and Wynn Macau (01128) rose 1.68% to HK$6.04.
The Zhitong Finance App learned that gaming stocks rose collectively. As of press release, MGM China (02282) rose 3% to HK$9.26; Galaxy Entertainment (00027) rose 2.07% to HK$41.9; Wynn Macau (01128) rose 1.68% to HK$6.04; Sands China (01928) rose 1.19% to HK$21.3; and Huicai Holdings (01180) rose 1.12% to HK$0.9; and MGM Development (00200) rose 0.57% to HK$5.257%.
According to the J.P. Morgan report, Macau's gross gaming revenue in November was 16 billion patacas, with an average daily revenue of 535 million patacas, which is equivalent to 70% before the COVID-19 pandemic, in line with market expectations. It is estimated that gross gaming revenue in December this year was 17.5 billion to 18 billion patacas, recovering to 80% before the pandemic. The fourth quarter's gross midfield gaming revenue rose 10% quarterly, increasing 5% to 6% on a quarterly basis compared to previous seasonal effects. Midfield gaming revenue will surpass pre-pandemic levels, driving EBITDA back to over 85% before the pandemic.
Citi said that looking ahead to December, gaming revenue is expected to reach MOP 17.5 billion in December due to normal seasonal factors and a strong concert lineup. According to the bank, if the prediction comes true, Macau's gaming revenue this year will reach about MOP 182 billion, recovering to about 62% in 2019, which also means that midfield gambling revenue will completely recover lost ground in the fourth quarter.