Gaming stocks generally declined in early trading. As of press release, Melco International Development (00200) fell 4.01% to HK$5.5; Sands China (01928) fell 3.87% to HK$21.1; Galaxy Entertainment (00027) fell 3.27% to HK$38.5; and MGM China (02282) fell 2.29% to HK$13.64.
The Zhitong Finance App learned that gaming stocks generally declined in early trading. As of press release, Macau International Development (00200) fell 4.01% to HK$5.5; Sands China (01928) fell 3.87% to HK$21.1; Galaxy Entertainment (00027) fell 3.27% to HK$38.5; and MGM China (02282) fell 2.29% to HK$13.64.
According to a report published by Citigroup, Macau's gross gaming revenue increased 6% month-on-month. It is estimated that the industry's EBITDA increased by only 2% month-on-month, reflecting the negative impact of poor win rates on operating leverage. It is believed that the EBITDA growth performance of Aobo and MGM China was relatively good.
Macquarie, on the other hand, said that it is expected that the profit of Macau gaming stocks in the first quarter will be affected by market share. It is estimated that the market share of MGM China, Wynn Macau and Macau Expo Holdings will increase month-on-month. The bank's first choice is still Galaxy Entertainment and Sands China, which are optimistic that they will renovate this year and beyond, have strong real estate reserves, and have sufficient inventory of hotel rooms.