Galaxy Entertainment May Regain Market Share -- Market Talk

Dow Jones05-15

0331 GMT - Galaxy Entertainment may regain some market share, with strong momentum continuing into May even after China's Labor Day holidays, Citi Research analysts George Choi and Ryan Cheung say in a note. They note that April market share was higher than the company's trailing three- and six-month averages. "Competition has always been intense in Macau, but management also concurs that competition has been stabilizing," Citi says. On an individual property basis, Citi notes that one of Galaxy's properties, Galaxy Macau, has been ranked first in market share in the mass table gross gaming revenue segment for the past five consecutive quarters. Citi maintains a buy rating on the stock and target price of HK$62.50. Shares last closed at HK$36.80.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

May 14, 2024 23:31 ET (03:31 GMT)

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On an individual property basis, Citi notes that one of Galaxy's properties, Galaxy Macau, has been ranked first in market share in the mass table gross gaming revenue segment for the past five consecutive quarters. Citi maintains a buy rating on the stock and target price of HK$62.50. 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