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<Research>HSBC Research Expects MO Jul GGR to Reach MOP20.8-22B
Recommend 7 Positive 14 Negative 8 |
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Macau's GGR for the first 13 days of July amounted to MOP9.05 billion, HSBC Global Research issued a research report saying. The average daily GGR over the past 7 days fell by 5% WoW to MOP678 million, due to a decline in VIP win rates and the conclusion of Jacky Cheung's concerts. The MTD average daily GGR was MOP696 million, down 1% from that in June but up 17% YoY. Of which, the mass ADR increased by 0-3% Mom, while VIP bett volume remained largely flat. If the average daily GGR for the remainder of July stays between MOP650 million and MOP720 million, the full-month GGR could reach MOP20.8-22 billion, implying a YoY increase of 12-18%, compared to June's growth of 19%. The broker remained bullish on GALAXY ENT (00027.HK)/ MGM CHINA (02282.HK), with target prices of $42.5/ $16.5 each, both of which rated at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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