According to a report from HSBC Global Research, Macau's GGR in the past month rose by 19% YoY, beating expectations. Meanwhile, high-end demand surpassed the broker's forecasts, and on-site inspections indicated that robust demand would be more enduring, particularly in the coming months.

Some industry sources attributed the demand increase to higher travel frequency and increased gaming budgets among high-end mass-market players. The authorities' crackdown earlier this year on currency exchange operations seems to have had a minimal impact, and non-gaming events have a role in boosting GGR.

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In HSBC Global Research's estimate, Macau's upcoming rich event schedule will help sustain GGR momentum in the face of relatively weak high-end retail demand. The broker preferred GALAXY ENT (00027.HK)  -0.600 (-1.453%)    Short selling $50.82M; Ratio 18.172%   and MGM CHINA (02282.HK)  -0.890 (-5.139%)    Short selling $15.02M; Ratio 6.193%   among Macau casino stocks.

Below are the latest target prices and investment ratings for Macau casino stocks from HSBC Global Research:

Stock│Investment Rating│Target Price (HKD)
Melco Resorts & Entertainment (MLCO.US)      │Hold│USD8.2→USD8.5
GALAXY ENT (00027.HK)  -0.600 (-1.453%)    Short selling $50.82M; Ratio 18.172%   │Buy│42.5→45.5
MGM CHINA (02282.HK)  -0.890 (-5.139%)    Short selling $15.02M; Ratio 6.193%   │Buy│16.7→18.8
SANDS CHINA LTD (01928.HK)  -0.420 (-2.045%)    Short selling $85.58M; Ratio 34.992%   │Hold│17.3→19.7
SJM HOLDINGS (00880.HK)  -0.140 (-4.035%)    Short selling $14.51M; Ratio 19.916%   │Hold│2.5→3.2
WYNN MACAU (01128.HK)  -0.510 (-7.522%)    Short selling $46.39M; Ratio 22.839%   │Hold│6→6.5
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-08 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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