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<Research>Macquarie: MO Jun GGR Misses Estimation; GALAXY ENT (00027.HK) Liked
Recommend 12 Positive 24 Negative 10 |
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Macau's total GGR reached MOP17.7 billion in June, down 12% MoM, Macquarie released a research report saying. The weaker-than-expected performance was mainly due to the start of the UEFA European Football Championship, which shifted entertainment demand to online sports betting, and the high base effect of 2023 from the concert of Jacky Cheung, a Hong Kong singer. GALAXY ENT (00027.HK) is its top pick among Macau's casinos, mainly due to its strong real estate reserves, ample hotel room inventory and recovery in market share, etc., Macquarie said. Therefore, Macquarie rated GALAXY ENT at Outperform, with a target price of $58.7. AAStocks Financial News |
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