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<Research>UBS: New Hotel Opening Boosts Macau's GGR; Sector Top Pick GALAXY ENT
Recommend 29 Positive 50 Negative 10 |
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According to a report from UBS, the broker's channel checks showed that Macau's GGR averaged MOP685 million per day for the past seven days, up from the previous seven days' average of MOP593 million. This increase was attributable to the opening of GALAXY ENT (00027.HK)'s new hotel Capella, which attracted some VIP customers to Macau and drove the MTD average daily GGR up by 11% MoM to MOP700 million. Considering potential demand impacts from the trade war, UBS maintained a cautious stance on the Macau gaming industry. It named GALAXY ENT as its sector top pick, with a target price of HKD34.2 and a Buy rating. Stocks | Investment Rating | Target Price (HKD) GALAXY ENT (00027.HK) | Buy | 34.2 MGM CHINA (02282.HK) | Neutral | 10 SANDS CHINA LTD (01928.HK)｜Neutral｜14.5 WYNN MACAU (01128.HK) | Sell | 3.8 MELCO INT'L DEV (00200.HK) | Sell | 2.4 SJM HOLDINGS (00880.HK) | Sell | 1.6 AAStocks Financial News |
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