On June 26, Sands China fell 3.1% in regular trading, trading at HK$12.81/share, with turnover of HK$78.84 million. The decline came amid broad-based selling pressure across the Macau gaming sector, driven by continued concerns over the World Cup's negative impact on high-end mass gaming revenue.
According to a recent Citi research note citing industry data, June high-end mass gaming indicators in Macau all recorded year-on-year declines due to the ongoing World Cup and last year's high base from concert events. Total bets dropped 38% YoY to HK$9.8 million, marking a post-pandemic low, while player traffic fell 29% YoY, and average bet per hand declined 13% to HK$21,775. Morgan Stanley previously forecasted June gaming revenue at MOP$20.8 billion, representing a 1% YoY decline, implying Q2 gaming revenue growth of only 4% YoY. The bank noted that revenue growth is insufficient to offset rising cost pressures, with Q2 EBITDA expected to remain flat year-on-year.
Within the Casinos and Gaming sector, SJM Holdings fell 3.31%, Melco International fell 3.47%, Galaxy Entertainment fell 3.09%, Wynn Macau fell 2.76%, and MGM China fell 2.58%.
(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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