Macau's gaming revenue in November once again surpassed expectations, rising 14.4% year-on-year to MOP 21.1 billion, exceeding both CLSA's forecast and market consensus by 3% to 4%. This indicates that after the conclusion of the National Games on November 21, daily average gaming revenue from November 24 to 30 reached MOP 784 million. CLSA believes this strong finish signals a robust start for December gaming revenue. The bank projects December revenue to grow 15% YoY to MOP 20.9 billion, with significant upside potential due to last year's two-week traffic restrictions. Top picks include GALAXY ENT (00027) and MGM CHINA (02282).
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