A research report projects Macau's gross gaming revenue for May to have reached MOP 22.6 billion, marking a year-on-year increase of 6.7% and a month-on-month rise of 13.7%. This figure slightly exceeded market expectations, which anticipated a 5% year-on-year gain. The daily average revenue for the month stood at MOP 729 million, representing a 10% increase compared to April.
The performance in May is attributed to the boost from the Labor Day holiday and the hosting of several large-scale entertainment events in Macau, which helped to attract visitor traffic.
Looking ahead, the forecast for June's gross gaming revenue is between MOP 19.5 billion and MOP 21 billion. This translates to a daily average revenue of MOP 650 million to MOP 700 million. This represents a projected year-on-year decline of 0% to 7% and a drop of 12% to 18% compared to the same period in 2019.
The primary factor for this anticipated seasonal dip is the impact of the FIFA World Cup, which typically diverts demand away from Macau's gaming sector.
Key Stock Preferences
Among Macau gaming stocks, the firm maintains a positive outlook, with a clear preference ranking.
Sands China Ltd (HKEX: 01928)
This company remains the most favored pick.
GALAXY ENT (HKEX: 00027)
It is ranked second in terms of preference.
WYNN MACAU (HKEX: 01128)
This stock holds the fourth position in the ranking.
SJM HOLDINGS (HKEX: 00880)
This company is positioned last in the current preference order.
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