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<Research>HSBC Research Keeps Buy on GALAXY ENT, MGM CHINA, Predicts MO Oct GGR to Hit Max. MOP23.1B
Recommend 16 Positive 21 Negative 14 |
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Macau's gaming industry recorded an average daily GGR of MOP743 million in the third week of October, marking a 25% WoW increase, according to a report from HSBC Global Research. The MTD GGR averaged MOP782 million per day, up 7% YoY, a 28% growth compared to September. In the broker's estimate, Macau's GGR for October will range from MOP22.3 billion to MOP23.1 billion, meaning an average of MOP620-690 million per day for the remainder of the month, a YoY growth of 7-11%, accelerating from around 6% in September. As GGR slows, HSBC Global Research believes that the upside potential for casino stocks may be limited in the short term. It kept a Buy rating on GALAXY ENT (00027.HK) and MGM CHINA (02282.HK), with unchanged target prices of HKD43 and HKD17.1, respectively. AAStocks Financial News |
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