Movement Alert|Sands China Falls 3.09% in Regular Trading, Macau Gaming Sector Under Pressure on June Revenue Concerns

Market Focus06-08 10:18

On June 8, Sands China declined 3.09% in regular trading, trading at HK$14.88/share, with trading volume of HK$82.241 million. The broader Macau gaming sector saw uniform weakness as analyst forecasts pointed to a sequential decline in June gross gaming revenue.

Morgan Stanley projected Macau June GGR at MOP 20.8 billion, representing a 1% year-over-year decline, citing short-term diversion from World Cup matches and a higher comparison base. The bank noted that revenue growth is insufficient to offset rising cost pressures, expecting Q2 EBITDA to remain flat year-over-year. Similarly, CICC estimated June GGR at MOP 19.5-21 billion, implying a 0-7% year-over-year decrease and a 12-18% gap versus the same period in 2019.

Within the Casinos and Gaming sector, all major names traded lower: Galaxy Entertainment down 1.86%, MGM China down 3.85%, Wynn Macau down 2.77%, SJM Holdings down 2.67%, and Melco International down 2.33%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment