Macau Gaming Stocks Slide in Morning Trading, Wynn Macau Leads Declines as Analysts See Limited Upside for Revenue

Stock News06-05 11:58

Macau's casino and gaming stocks experienced a broad decline during early trading. At the time of writing, Wynn Macau Ltd (HKEX: 01128) shares were down 4.42%, trading at HK$5.62. Sands China Ltd (HKEX: 01928) fell 4.12% to HK$15.11. Galaxy Entertainment Group Ltd (HKEX: 00027) dropped 2.82% to HK$31.02, while MGM China Holdings Ltd (HKEX: 02282) decreased by 1.91% to HK$11.3.

The sector's weakness follows commentary from analysts regarding the outlook for gaming revenue. CLSA expressed the view that the potential for positive surprises in the industry's gross gaming revenue is limited. The firm forecasts June's GGR to decline by 0.65% year-on-year and projects full-year 2024 GGR growth of 5%, which sits at the lower end of market expectations ranging from 5% to 8%.

In contrast, UBS anticipates that the momentum in gaming revenue growth is likely to rebound in August. The bank noted that a mild slowdown could occur in June and July due to a temporary headwind from the World Cup. Looking further ahead, UBS believes that given a stable competitive landscape and an increased focus on cost optimization across the sector, pressure on industry profit margins should gradually ease in the second half of 2026.

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At the time of writing, <b>Wynn Macau Ltd</b> (<b>HKEX: 01128</b>) shares were down 4.42%, trading at HK$5.62. <b>Sands China Ltd</b> (<b>HKEX: 01928</b>) fell 4.12% to HK$15.11. <b>Galaxy Entertainment Group Ltd</b> (<b>HKEX: 00027</b>) dropped 2.82% to HK$31.02, while <b>MGM China Holdings Ltd</b> (<b>HKEX: 02282</b>) decreased by 1.91% to HK$11.3.<br><br>\nThe sector's weakness follows commentary from analysts regarding the outlook for gaming revenue. CLSA expressed the view that the potential for positive surprises in the industry's gross gaming revenue is limited. The firm forecasts June's GGR to decline by 0.65% year-on-year and projects full-year 2024 GGR growth of 5%, which sits at the lower end of market expectations ranging from 5% to 8%.<br><br>\nIn contrast, UBS anticipates that the momentum in gaming revenue growth is likely to rebound in August. The bank noted that a mild slowdown could occur in June and July due to a temporary headwind from the World Cup. 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