Macau’s daily run-rate last week hit highest for non-holiday days since pandemic, picks Galaxy Entertainment, Sands China – JPMorgan
DATA VIEWS & ANALYSIS
Macau’s daily run-rate last week hit highest for non-holiday days since pandemic, picks Galaxy Entertainment, Sands China – JPMorgan
DATA VIEWS & ANALYSIS

Macau’s daily run-rate last week hit highest for non-holiday days since pandemic, picks Galaxy Entertainment, Sands China – JPMorgan

 

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Macau’s gross gaming revenue in the first 18 days of June may have reached MOP9.5 billion, or a daily run-rate of MOP527 million, estimated by JPMorgan,

That means last week’s GGR run-rate may have grown to MOP570 million/ day, notching another highest non-holiday GGR since the pandemic and beating even May’s run-rate, it said.

Jacky Cheung concert at Sands’ Venetian continues to lure the right type of gamblers, which drove up the gross gaming revenue and this type of entertainment does seem to be boosting Macau’s gaming industry, at least so far, which made mass recovery faster than pre-pandemic levels, it said.

The broker’s top picks were Galaxy Entertainment and Sands China, with respective target price of HK$75 and HK$40 and rating of Overweight.Â