Movement Alert｜Sands China Rises 3.13% in Regular Trading, Goldman Sachs Maintains Buy Rating After June GGR Meets Expectations

Market Focus07-03

On July 3, Sands China rose 3.13% in regular trading, reaching HK$13.52 per share, with turnover of HK$48.9975 million. The broader Casinos & Gaming sector traded higher, with the stock rebounding alongside peers following a period of selling pressure tied to weak June gaming revenue data.

On the news front, Goldman Sachs issued a research report stating that Macau's June gross gaming revenue of MOP 18.5 billion, down 12% year-over-year, was in line with market expectations at the lower end, reaching 78% of pre-pandemic 2019 levels. The bank maintained its Buy rating on Sands China with a target price of HK$23.2, representing significant upside from current levels. Goldman believes that once the high-base effect and World Cup diversion factors dissipate, Macau's gaming performance will improve. UBS separately noted that June GGR was broadly in line with already-lowered market consensus, with July daily GGR expected to recover approximately 9% month-over-month.

Within the Casinos & Gaming sector, SJM Holdings up 5.48%, Melco International up 5.10%, MGM China up 3.35%, Wynn Macau up 2.0%, Galaxy Entertainment up 1.76%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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