By Sherry Qin
Macau casino stocks rose Wednesday after the gambling hub reported an acceleration in gaming momentum.
MGM China Holdings rose 6.8% in Hong Kong trading, Sands China was 6.85% higher and Galaxy Entertainment Group advanced, outperforming the Hang Seng Index's 0.6% gain as of midday.
Macau's June gross gaming revenue rose 19% to 21.06 billion patacas, equivalent to US$2.60 billion, Macau's Gaming Inspection and Coordination Bureau said Tuesday. That represented a jump from May's 5% rise and April's 1.7% gain, and topped market expectations.
Citi analysts noted that the month ended strongly with daily gross gaming revenue of around 783 million patacas in the final eight days, likely due to a series of concerts by Cantopop singer Jacky Cheung.
The strong June print is "another testimony to players' passion about gaming despite the geopolitical tensions and economic uncertainty," the Citi analysts said.
Citi forecasts Macau to deliver 6% growth in gross gaming revenue for the second half of 2025.
The bank expects visitor numbers to pick up during the summer months and China's National Day "golden week" in October, with gaming revenue likely to be supported by events hosted by casino operators.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
07-02-25 0125ET
