Citi: Macau’s gaming revenue for the first 19 days of July reached approximately MOP 12.05 billion, showing signs of recovery in daily gaming revenue.

Citi Research noted that, according to industry data sources, Macau’s estimated gross gaming revenue for the first 19 days of July amounted to approximately MOP 12.05 billion. The average daily gaming revenue for the most recent week stood at around MOP 679 million, up about 9% from the MOP 621 million average during the week ending July 6. Citi stated that the latest weekly data appears to indicate that the disruption caused by global football matches continues to fade, with only three matches held last week compared to eight during the week of July 6. By segment, VIP gaming revenue rose month-over-month by approximately 0% to 2%, mass-market gaming revenue remained flat month-over-month, and VIP win rates appeared higher than those in the week of July 6. As global football matches

AASTOCKS15:46

Macau's overall hotel occupancy rate is expected to reach 90% during the summer vacation.

Citing local hotel operators, the Macau Daily News reported that thanks to multiple central government policies supporting Macau, visitor arrivals have continued their strong growth trend. During the July–August summer holiday period, the overall hotel occupancy rate is expected to reach 90%, with room rates remaining stable within a reasonable range. Zhang Jianzhong, President of the Macau Hoteliers and Travel Agents Association and Chairman of China Travel Service (Macau), noted that in addition to independent travelers, family and parent-child tourists also account for a significant share during the summer holidays, leading to relatively concentrated travel periods. August is expected to be the peak month for hotel occupancy.

AASTOCKS10:20

Galaxy Entertainment Group Stock Climbs 3.5% in Hong Kong

Dow JonesJul 16 16:32

Hong Kong Market Movers | Gaming stocks extend gains as earnings season approaches; analysts note share prices have already priced in expectations of earnings decline

Gains in casino stocks widened. As of the time of writing, Melco International Development (00200 HK) rose 5.66% to HK$3.36; Wynn Macau (01128 HK) gained 5.04% to HK$5.42; Galaxy Entertainment (00027 HK) climbed 4.34% to HK$32.72; and MGM China (02282 HK) advanced 4.08% to HK$10.47.

Zhitong FinanceJul 16 13:41

Galaxy Entertainment Group (GXYEF) Gets a Buy From HSBC

TipRanksJul 16 08:27 · Ratings

Goldman Sachs Keeps Their Buy Rating on Galaxy Entertainment Group (GXYEF)

TipRanksJul 16 08:26 · Ratings