Citi Sticks to Its Buy Rating for Galaxy Entertainment Group (GXYEF)

TipRanksJul 10 18:45 · Ratings

CLSA Reaffirms Their Buy Rating on Galaxy Entertainment Group (GXYEF)

TipRanksJul 10 17:35 · Ratings

Citi expects Macau's gaming sector EBITDA to decline by 7% year-over-year in the second quarter, with Galaxy Entertainment (00027.HK) and Wynn Macau (01128.HK) as top picks.

Citi published a research report indicating that Macau's gaming revenue in the second quarter was weighed down by the FIFA World Cup and an exceptionally unfavorable VIP segment win rate, leading to higher operating leverage. The firm forecasts industry EBITDA for the next quarter to decline to USD 1.923 billion, representing a 7% year-over-year and 12% quarter-over-quarter drop. However, given that the sector is currently trading at nearly two standard deviations below its historical average valuation, Citi believes share prices have largely priced in these negative factors. The bank named Galaxy Entertainment (00027.HK) and Wynn Macau (01128.HK) as top picks in the sector. Specifically, Citi has initiated a 30-day upside catalyst watch on Galaxy Entertainment, expecting the company to be the first

AASTOCKSJul 10 14:54

Citi: Added Galaxy Entertainment (00027) to its 30-day upside catalyst watchlist with a target price of HK$44

Galaxy Entertainment plans to develop Phase IV and a hotel resort project, which will drive its future growth.

Zhitong FinanceJul 10 14:45 · Ratings

Goldman Sachs expects Galaxy Entertainment (00027.HK) to see an improvement in its July gaming gross revenue trend.

Goldman Sachs published a report stating that the firm met with Galaxy Entertainment Group (00027.HK) management yesterday (July 2). The company attributed the temporary weakness in Macau’s gross gaming revenue (GGR) in June—down 12% year-over-year, compared to a 7% increase in May—to an unexpectedly strong diversion effect on gaming expenditure caused by the FIFA World Cup. This year’s tournament features an extended schedule (39 days total) and an expanded field of 48 teams. Additionally, the high base from June–July last year, when Jacky Cheung concerts were held, further contributed to the decline. Looking ahead, the company expects GGR trends to improve in July, as the number of World Cup matches this month is lower (32 matches, compared to 7

AASTOCKSJul 3 15:50

Analyst Ratings | Goldman Sachs: Macau’s June gaming revenue met the lower end of market expectations; maintains 'Buy' ratings on multiple Macau casino stocks

Gelonghui, July 2 | Goldman Sachs stated in a research report that Macau's gross gaming revenue (GGR) in June declined by 12% year-over-year to MOP 18.5 billion, reaching 78% of its pre-pandemic 2019 level, in line with the lower end of market expectations. The firm believes that Macau’s gaming sector performance will improve once factors weighing on GGR—such as high base effects and the World Cup-related diversion of demand—are alleviated. Goldman Sachs maintained its “buy” ratings on several Macau casino stocks, including Galaxy Entertainment, MGM China, and Sands China, with target prices of HK$53.2, HK$19.5, and HK$23.2, respectively.

Gelonghui FinanceJul 2 17:01 · Ratings