Hong Kong Stocks Movement | Gaming Stocks Rise Across the Board; MGM China (02282) Gains Over 2% as Macau's November GGR Climbs 14.4% YoY

Stock News12-02

Gaming stocks in Hong Kong saw broad gains. At the time of writing, MGM China (02282) rose 2.48% to HKD 16.97, Sands China (01928) climbed 2.15% to HKD 21.88, GALAXY ENT (00027) advanced 1.96% to HKD 40.64, and WYNN MACAU (01128) increased 1.54% to HKD 6.59.

The Macau Gaming Inspection and Coordination Bureau reported on December 1 that November gross gaming revenue (GGR) reached MOP 21.09 billion, up 14.4% year-on-year. Cumulative GGR for the first 11 months of the year totaled MOP 226.52 billion, reflecting an 8.6% annual increase.

J.P. Morgan noted that while Macau's gaming revenue remains slightly robust, gaming stock valuations appear relatively low, expressing optimism for the sector's performance next year.

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