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Express News | Macau Says May Gambling Revenue up 29.7 Pct From a Year Earlier to 20.2 Bln Patacas
Galaxy Entertainment (00027.HK) was reduced by 10.918,600 shares by J.P. Morgan
Glonghui, May 29丨According to the Stock Exchange's latest equity disclosure data, on May 23, 2024, Galaxy Entertainment (00027.HK) was reduced by JPMorgan Chase & Co. from a good position of 10.918,600 shares at an average price of HK$39.7214 per share, involving approximately HK$434 million. After the reduction in holdings, JPMorgan Chase & Co.'s latest number of open positions was 346,651,822 shares, and the holding ratio dropped from 8.17% to 7.92%.
J.P. Morgan sells 10.918,600 common shares of Galaxy Entertainment (00027.HK) worth approximately HK$434 million
On May 29, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 29, JPMorgan Chase & Co. (JPMorgan Chase & Co.) sold $10.91.86 million common shares worth HK$434 million on May 23 at an average price of HK$39.7214 per share on the market and an average price of HK$39.768 per share outside the market. After the sale, J.P. Morgan Chase's latest shareholding was 347 million shares, and the good position ratio dropped from 8.17% to 7.92%. Image source: Stock Exchange Equity Disclosure What is equity disclosure
Big Bank Ratings|Citibank: Reiterates optimism about the prospects of Macau's gaming industry and gives Galaxy Entertainment, Melco International and others “buy” ratings
Glonghui, May 29 | Citi published a report stating that in a meeting with Macau's top six gaming companies, all gaming operators agreed that Macau's gambling revenue is still expected to grow. Expanding free travel cities in the mainland will drive a further increase in the number of travelers, while high-spending travelers maintain their willingness and ability to spend, and smart casino technology is also beneficial. As operating expenses are generally stable, operating leverage will come into play, and EBITDA growth is expected to accelerate. The bank believes that the valuation of Macau gaming stocks is only 9 times the predicted corporate value multiple (EV/EBITDA) for the next year, which is more than 1.5 standard deviations lower than the historical average. The current estimate
Citibank: The latest target price for Macau gaming stocks (table) reaffirms optimism about the prospects of the industry
According to Citigroup, all gaming operators in Macau agree that Macau's gaming revenue is still expected to grow.
Galaxy Entertainment (00027.HK) received 13.465 million shares from J.P. Morgan Chase
Glonghui, May 27丨According to the latest equity disclosure data from the Stock Exchange, on May 21, 2024, Galaxy Entertainment (00027.HK) obtained JPMorgan Chase & Co. increased its holdings by 13.465 million shares at an average price of HK$40.0727 per share, involving approximately HK$540 million. After the increase in holdings, JPMorgan Chase & Co.'s latest number of open positions was 356,384,128 shares, and the holding ratio increased from 7.84% to 8.14%.
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