Macau Gaming Stocks Lead Gains as October Revenue Rebounds 20% Month-on-Month, November Packed with Major Events

Stock News11-02 10:04

Gaming stocks are leading the gains, with MGM China (02282) up 6.30% at HK$9.695, Sands China Ltd (01928) up 5.15% at HK$11.23, Melco International Development (00200) up 5.13% at HK$2.355, and Galaxy Entertainment (00027) up 5.12% at HK$33.70 as of press time.

On the news front, the latest figures from Macau's Gaming Inspection and Coordination Bureau show that October gross gaming revenue reached MOP 21.68 billion, an increase of more than MOP 3.6 billion compared to the previous month, a rebound of approximately 20%, though still down about 10% year-on-year. Total gaming revenue for Macau from January to October amounted to MOP 208.796 billion, up 1.6% compared to the same period last year.

It is worth noting that Macau will host several major events in November, including the Grand Prix, the International Forum on Mutual Learning of Civilizations, and the hush! Beach Concert, among others. The market is watching whether a recovery in visitor traffic can drive an improvement in gaming revenue.

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