Macau Casino Operators' Shares Rise, Fueled by Strong Holiday Performance

Dow Jones10-07

By Tracy Qu

Macau casino operators' shares rose sharply, fueled expectations of a strong performance during China's weeklong national holiday.

Wynn Macau's Hong Kong-listed shares climbed 5.5% to $7.49 Hong Kong dollars (US$0.96) on Monday morning, Galaxy Entertainment's shares were 7.45% higher and Sands China's shares rose 7.8%.

Citi analysts led by George Choi said their table survey showed record-high Premium Mass volumes during national day holiday. Premium Mass table utilization of around 52% was the highest in Citi's records since the casinos reopened after the Covid-19 pandemic, the analysts said. The gamblers at these tables typically place bigger wagers than normal visitors, without the need of credit from casinos or junkets.

"Premium Mass demand has always been resilient, despite the weak Chinese discretionary spending trends year-to-date. We believe the recently announced policy combo from the Chinese government has further enhanced players' appetite for gaming," Citi said.

Last week, UOB Kay Hian upgraded the sector from market weight to overweight, and said Galaxy Entertainment was its top sector pick. "We expect the strong visitations from mainland China during the Golden Week to boost gross gaming revenue recovery," the analysts said in a research note.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

October 06, 2024 23:25 ET (03:25 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2473438071?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-07 11:25","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2473438071","market":"other","top_or_hot":-1,"title":"Macau Casino Operators' Shares Rise, Fueled by Strong Holiday Performance","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Tracy Qu \n</p>\n<pre>\n \n</pre>\n<p>\n  Macau casino operators' shares rose sharply, fueled expectations of a strong performance during China's weeklong national holiday. \n</p>\n<p>\n  Wynn Macau's Hong Kong-listed shares climbed 5.5% to $7.49 Hong Kong dollars (US$0.96) on Monday morning, Galaxy Entertainment's shares were 7.45% higher and Sands China's shares rose 7.8%. \n</p>\n<p>\n  Citi analysts led by George Choi said their table survey showed record-high Premium Mass volumes during national day holiday.  Premium Mass table utilization of around 52% was the highest in Citi's records since the casinos reopened after the Covid-19 pandemic, the analysts said. The gamblers at these tables typically place bigger wagers than normal visitors, without the need of credit from casinos or junkets. \n</p>\n<p>\n  \"Premium Mass demand has always been resilient, despite the weak Chinese discretionary spending trends year-to-date. We believe the recently announced policy combo from the Chinese government has further enhanced players' appetite for gaming,\" Citi said. \n</p>\n<p>\n  Last week, UOB Kay Hian upgraded the sector from market weight to overweight, and said Galaxy Entertainment was its top sector pick. \"We expect the strong visitations from mainland China during the Golden Week to boost gross gaming revenue recovery,\" the analysts said in a research note. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Tracy Qu at tracy.qu@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 06, 2024 23:25 ET (03:25 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Macau Casino Operators' Shares Rise, Fueled by Strong Holiday Performance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMacau Casino Operators' Shares Rise, Fueled by Strong Holiday Performance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-07 11:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Tracy Qu \n\n\n \n\n\n  Macau casino operators' shares rose sharply, fueled expectations of a strong performance during China's weeklong national holiday. \n\n\n  Wynn Macau's Hong Kong-listed shares ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1589","symbol_name":"北水核心资产","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2473438071","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2473438071","pubTimestamp":1728271500,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Macau casino operators' shares rose sharply, fueled expectations of a strong performance during China's weeklong national holiday.Wynn Macau's Hong Kong-listed shares climbed 5.5% to $7.49 Hong Kong dollars  on Monday morning, Galaxy Entertainment's shares were 7.45% higher and Sands China's shares rose 7.8%.Citi analysts led by George Choi said their table survey showed record-high Premium Mass volumes during national day holiday.  Premium Mass table utilization of around 52% was the highest in Citi's records since the casinos reopened after the Covid-19 pandemic, the analysts said. The gamblers at these tables typically place bigger wagers than normal visitors, without the need of credit from casinos or junkets.\"Premium Mass demand has always been resilient, despite the weak Chinese discretionary spending trends year-to-date. We believe the recently announced policy combo from the Chinese government has further enhanced players' appetite for gaming,\" Citi said.Last week, UOB Kay Hian","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1589":"北水核心资产","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0048597586.USD":"富达亚洲焦点A","SCHYY":"金沙中国有限公司ADR","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","00027":"银河娱乐","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","BK4150":"赌场与赌博","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0149534421.HKD":"SCHRODER ISF HONG KONG EQ \"A\" ACC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0594300419.USD":"富达中国消费基金A","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","01128":"永利澳门","BK1521":"挪威政府全球养老基金持仓","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","BK1610":"ETF&股票定投概念","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","LU0702159699.USD":"FIDELITY ASIAN SMALLER COMPANIES \"A\" (USD) ACC","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU1166156734.SGD":"Fidelity Asian Smaller Companies A-ACC-SGD","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK1172":"赌场与赌博","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0173614495.USD":"富达中国焦点A","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","01928":"金沙中国有限公司","LU0140636845.USD":"施罗德大中华区股票A Acc"},"translate_title":"受强劲假期表现推动，澳门赌场运营商股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01128":0.9,"SCHYY":0.9,"00027":0.9,"01928":0.9},"content_text":"By Tracy Qu \n\n\n \n\n\n  Macau casino operators' shares rose sharply, fueled expectations of a strong performance during China's weeklong national holiday. \n\n\n  Wynn Macau's Hong Kong-listed shares climbed 5.5% to $7.49 Hong Kong dollars (US$0.96) on Monday morning, Galaxy Entertainment's shares were 7.45% higher and Sands China's shares rose 7.8%. \n\n\n  Citi analysts led by George Choi said their table survey showed record-high Premium Mass volumes during national day holiday.  Premium Mass table utilization of around 52% was the highest in Citi's records since the casinos reopened after the Covid-19 pandemic, the analysts said. The gamblers at these tables typically place bigger wagers than normal visitors, without the need of credit from casinos or junkets. \n\n\n  \"Premium Mass demand has always been resilient, despite the weak Chinese discretionary spending trends year-to-date. We believe the recently announced policy combo from the Chinese government has further enhanced players' appetite for gaming,\" Citi said. \n\n\n  Last week, UOB Kay Hian upgraded the sector from market weight to overweight, and said Galaxy Entertainment was its top sector pick. \"We expect the strong visitations from mainland China during the Golden Week to boost gross gaming revenue recovery,\" the analysts said in a research note. \n\n\n \n\n\n  Write to Tracy Qu at tracy.qu@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 06, 2024 23:25 ET (03:25 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2473438071"}