Macau's GGR in May and June were better than expected, prompting HSBC Global Research to turn more positive on its full-year outlook, HSBC Global Research issued a research report saying.

The broker raised its full-year GGR growth forecast from 3% to 6%, and noted that the GGR growth was driven by high-end customers. Meanwhile, an increase in visitation helped to accelerate growth.

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HSBC Global Research raised its full-year industry EBITDA forecast by 4%, and added its target price on Melco Resorts & Entertainment (MLCO.US)      from US$6 to US$7.7, with rating kept at Hold.

The broker also lifted its target prices for GALAXY ENT (00027.HK)  +0.700 (+1.867%)    Short selling $132.72M; Ratio 14.346%   / MGM CHINA (02282.HK)  +0.480 (+3.288%)    Short selling $13.39M; Ratio 4.955%   / SANDS CHINA LTD (01928.HK)  +0.420 (+2.293%)    Short selling $179.44M; Ratio 29.205%   from $41.5/ $14.5/ $16 to $42.5/ $16.5/ $17, with ratings kept at Buy/ Buy/ Hold. However, HSBC Global Research cut its target price for WYNN MACAU (01128.HK)  +0.380 (+6.397%)    Short selling $28.17M; Ratio 10.135%   from $6.1 to $6, with rating kept at Hold.

HSBC Global Research believed that investors should remain selective, and preferred GALAXY ENT as the opening of its new hotel, Capella, received positive feedback and will help attract high-end demand, with a number of events waiting to be launched. The broker was also optimistic on MGM CHINA due to growth acceleration in 2H25 based on low base and new supply.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-08 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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