Movement Alert｜GALAXY ENT Falls 3.05% in Regular Trading, Macau Gaming Weakness Continues After Fund Commitment Update

Market Focus10-28

On October 28, GALAXY ENT fell 3.05% in Regular Trading, trading at HK$31.16, with turnover of HK$175 million.

The most recent company-specific development was its October 23 announcement that its wholly owned unit joined the Macau SAR Government Guidance Fund II as a limited partner, with a capital commitment of about MOP2.27 billion. The contribution will count toward the group’s non-gaming investment commitment under its gaming concession and will be paid in stages.

Recent sector backdrop has remained soft. Earlier in October, Macau’s September gross gaming revenue was MOP18.06 billion, down 1.2% year over year and below market expectations, triggering a broad selloff in casino names. On October 28, peer stocks were also weak, including SJM HOLDINGS falling 3.77%, WYNN MACAU falling 3.22%, MGM CHINA falling 3.05%, SANDS CHINA LTD falling 2.94%, and MELCO INT'L DEV falling 2.92%.

(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.)

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