CLSA Projects 11% April Gambling Revenue Growth in Macau to MOP 20.9 Billion, Favors GALAXY ENT and MGM CHINA

Stock News04-02

CLSA has released a research report indicating that Macau's total gambling revenue in March reached MOP 22.6 billion, representing a 15% year-on-year increase. This figure exceeded market and the firm's own expectations by 4 to 5 percent. The data implies that the average daily gambling revenue during the final week of March (23rd to 31st) was MOP 778 million, which was 10% higher than the daily average for the first 22 days of the month. The report noted that while this performance may be partly attributed to a higher-than-usual win rate, gambling demand has remained robust despite recent geopolitical tensions. CLSA forecasts that Macau's total gambling revenue for April will grow 11% year-on-year to MOP 20.9 billion, aligning with market consensus. The firm has selected GALAXY ENT (00027) and MGM CHINA (02282) as its top picks, assigning both an "Outperform" rating with target prices of HK$49.5 and HK$20.9, respectively.

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