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Express News | Jefferies Financial maintains a buy rating on MGM China with a target price of HK$14.20.
In October, the number of incoming travelers to Macau increased by 13.7% compared to the previous year.
According to the data from the Macao Statistics and Census Bureau, the number of inbound tourists in October this year totaled 3.1354 million, an increase of 13.7% year-on-year, recovering to 97.7% of the same period in 2019; a 24% increase compared to September. However, overnight tourists (1.789 million) and staying guests (1.3463 million) increased by 23.2% and 3.1% respectively year-on-year. The average stay of tourists was 1.1 days, a decrease of 0.1 day from the same month last year, with the average stay time of staying guests remaining at 2.3 days. In terms of visitor analysis, mainland chinese tourists in October increased by 16.1% year-on-year to 2.2634 million; Hong Kong.
Morgan Stanley: Thailand plans to legalize casinos next year. Silver Heritage (00027.HK) and mgm china (02282.HK) have expressed interest.
Macquarie published a report stating that the Thai government is promoting a bill that allows the operation of casinos locally, with the bill expected to pass next year. The report cites industry experts suggesting that Thailand's casino market has the potential to become the second largest gambling market in Asia, but lags behind Macau, benefiting from Thailand's strong tourism industry. The report indicates that Thailand may initially issue five casino licenses, with two in Bangkok and one each in Pattaya, Chiang Mai, and Phuket. Silver Entertainment (00027.HK), mgm china (02282.HK), Las Vegas Sands (LVS.US), and Wynn Resorts (WYNN.US) have expressed interest, while 澳博(008
Macau will continue to introduce measures such as distributing money to benefit residents next year.
The Macau SAR Government has submitted the budget proposal for the fiscal year 2024 to the Legislative Council, and will continue to implement a series of measures to benefit the people next year (2024), with an estimated total amount of 24.677 billion Macau Patacas. Among them, the cash share plan, medical subsidy plan, residence unit electricity subsidy plan, and continuous education development plan are expected to have a total expenditure of 8.514 billion Macau Patacas. This will be used to pay for free education subsidies, tuition subsidies for Macau resident students who do not benefit from free education, college student learning supplies subsidies, student textbook subsidies, teachers and professionals development subsidies in private educational institutions, respect for the elderly pension, retirement pension, disability pension,
HK stocks fluctuate | Macau casino stocks generally fell today. Gambling revenue in November may significantly decline month-on-month. Large institutions say retail remains weak.
Macau casino stocks fell today, as of the time of publication, Sands China (01928) fell by 5.11%, closing at HK$19.5; Galaxy Ent (00027) fell by 4.17%, closing at HK$34.45; mgm china (02282) fell by 4%, closing at HK$9.59; wynn macau (01128) fell by 4.06%, closing at HK$5.67.
Morgan Stanley: Latest rating and target price of Macau casino stocks (table). Galaxy Ent (00027) was the only market share growth in October.
Galaxy Ent (00027) saw a 4 percentage point increase in market share in October to 21%, the only Macau gaming enterprise to achieve market share growth during the period. Management attributed this to the concert held by the movie star Andy Lau during the National Day Golden Week.
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