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<Research>M Stanley: MO Sep GGR Grows 6% YoY, Below Forecasts; Oct GGR Expected to Rise 8%
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Macau's GGR for September amounted to MOP18.3 billion, up 6% YoY, missing the expectations of the market and Morgan Stanley of 9%, primarily due to a typhoon that caused a 33-hour casino closure, according to Morgan Stanley's research report. As for October, the broker expected Macau's GGR to grow 8% YoY, mainly benefiting from strong demand during the National Day Golden Week holiday, but also facing a higher base. A double-digit growth may be needed to boost share price performance. Regarding stocks, Morgan Stanley rated SANDS CHINA LTD (01928.HK), MGM CHINA (02282.HK) and WYNN MACAU (01128.HK) at Overweight, with target prices of $21/ $18/ $7.8, respectively. Despite facing cost pressures, the broker estimated 3Q25 EBITDA to still grow over 10% YoY in Macau's gaming industry. AASTOCKS Financial News Website: www.aastocks.com |
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