Lyon raised Macau's gaming revenue forecast for this year by 4% to US$30.3 billion.
The Zhitong Finance App learned that Lyon released a research report saying that Macau's gaming industry continued to develop this year, with good performance in visitor numbers and gaming revenue. MGM China (02282) and Wynn Macau (01128) have also resumed dividend payments. The bank raised Macau's gaming revenue forecast by 4% to US$30.3 billion, and maintained its forecast for next year's gaming revenue of US$31.9 billion, but lowered its Ebitda forecast for today and next two years by 1% to 3%. The bank expects this year's industry Ebitda to be 8% lower than the 2019 level, but next year it will only be 1% lower than the 2019 level. As Macau gradually normalizes, MGM China and Sands China (01928) are optimistic about stocks with stable balance sheets and frequent free cash flow.