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<Research>Macquarie Predicts MO Dec GGR to Hike Up to 22% YoY; Galaxy as Top Pick w/ $57.5 TP
Recommend 17 Positive 32 Negative 14 |
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Macau's average daily GGR last week was MOP700 million, up 8% WoW, with normalized VIP win rate, Macquarie's research report said, citing data. Compared to November, mass average daily revenue (ADR) lifted 3-5%, while VIP ADR grew 2-5%, with a VIP win rate of 2.7-2.9% (compared to over 3% in November). Assuming ADR remains at MOP660-750 million for the rest of the month, December's GGR will reach MOP21.3-22.2 billion, representing a YoY rise of 17-22%. The broker's top pick was GALAXY ENT (00027.HK) with a target price of HKD57.5, rated as Outperform, thanks to its strong property pipeline and ample hotel-room inventory. Capella, poised to be fully operational from end-2025, could raise market share of Galaxy's premium mass. Separately, Macquarie recommended investors to revisit SANDS CHINA LTD (01928.HK) and MGM CHINA (02282.HK), considering their market share growth and attractive valuations. Target prices were HKD25.2 and HKD22.6 respectively, both rated as Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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