Gaming stocks generally rose in early trading. As of press release, Wynn Macau (01128) rose 5.46% to HK$7.92; Aobo Holdings (00880) rose 4.74% to HK$2.65; MGM China (02282) rose 2.09% to HK$13.9; and Macau International Development (00200) rose 0.57% to HK$5.29.
The Zhitong Finance App learned that gaming stocks generally rose in early trading. As of press release, Wynn Macau (01128) rose 5.46% to HK$7.92; Aobo Holdings (00880) rose 4.74% to HK$2.65; MGM China (02282) rose 2.09% to HK$13.9; and Macau International Development (00200) rose 0.57% to HK$5.29.
Lyon published a report saying that Macau's gaming industry continued to develop this year, with good performance in visitor numbers and gambling revenue. MGM China and Wynn Macau have also resumed dividend payments. The bank raised Macau's gambling revenue forecast by 4% to US$30.3 billion, and maintained its forecast for next year's gambling revenue of US$31.9 billion, but lowered its Ebitda forecast for today and next two years by 1% to 3%. The bank said that with the gradual normalization of Macau, it is optimistic about stocks with a stable balance sheet and frequent free cash flow. MGM China and Sands China are preferred, and both have a “buy” rating.
According to a research report previously published by Citibank, Macau's gaming revenue in March reached 19.503 billion patacas, or the average daily gaming revenue of 629 million patacas, returning to about 75% of the same period in 2019, which is roughly in line with the bank's forecast and slightly higher than market expectations. The bank pointed out that the performance in March of this year was the best performance in a single month since society recovered. Currently, it still maintains the forecast that gambling revenue in April will reach MOP 18.5 billion. That is, the average daily gambling revenue is expected to reach MOP 617 million, recovering to 78% in the same period in 2019.