Gaming stocks rebounded collectively today. As of press release, Macau International Development (00200) rose 3.8% to HK$5.19; Aobo Holdings (00880) rose 3.45% to HK$2.7; Wynn Macau (01128) rose 2.51% to HK$7.36; and Galaxy Entertainment (00027) rose 2.08% to HK$34.35.
The Zhitong Finance App learned that gaming stocks rebounded collectively today. As of press release, Macau International Development (00200) rose 3.8% to HK$5.19; Aobo Holdings (00880) rose 3.45% to HK$2.7; Wynn Macau (01128) rose 2.51% to HK$7.36; and Galaxy Entertainment (00027) rose 2.08% to HK$34.35.
According to the news, on April 19, the Macau Tourism Administration expects the number of inbound visitors to reach 130,000 per day during the upcoming May 1st Golden Week. This figure is a marked increase compared to the number of visitors during the Qingming and Easter holidays. At the same time, the Macau hotel industry also has optimistic expectations for the occupancy rate during the Golden Week period, which is expected to reach 90% full.
Xiaomo said that the current valuation of the Macau gaming industry is cheap, especially considering such a steady pace of recovery so far, but simply being cheap is not enough to drive up stock prices, unless there are more catalysts to drive reratings. The bank will continue to search for stocks that outperform the market, as the industry still lacks a catalyst from July to August.