UBS: Macau's Premium Gamblers More Diverse with Stronger Finances, Supporting Gaming Demand

Stock News11-19

A UBS research report highlights that a survey of Macau’s premium mass-market gamblers reveals emerging customer segments, including high-income professionals. The gamblers now come from a broader range of industries, such as hardware technology and pharmaceuticals, with more reporting improved financial conditions over the past 12 months and expecting further gains in the next year. This trend supports resilient gaming demand.

The bank now forecasts 5% growth in gross gaming revenue (GGR) and an 11% rise in EBITDA for the sector by 2026. Additionally, the survey indicates premium gamblers prioritize factors like rebates, loyalty programs, hotel room quality, and upscale dining options. UBS believes premium gaming operators are better positioned to capture this demand.

Strategies focusing on high-end marketing, tailored player incentives, and enhanced product positioning will help premium operators stand out and expand market share. For stock picks, UBS favors GALAXY ENT (00027), WYNN MACAU (01128), and MGM CHINA (02282), with target prices of HK$46.9, HK$8.4, and HK$19.8, respectively, all rated "Buy."

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