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<Research>G Sachs Expects Strong MO GGR Momentum to Sustain, Rates SANDS CHINA LTD/ GALAXY ENT at Buy
Macau gaming companies attributed the strong performance in GGR in recent months to busy event schedule, wealth effects driven by the stock market, relaxed visa policies and ongoin...
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<Research>G Sachs Expects Strong MO GGR Momentum to Sustain, Rates SANDS CHINA LTD/ GALAXY ENT at Buy
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Macau gaming companies attributed the strong performance in GGR in recent months to busy event schedule, wealth effects driven by the stock market, relaxed visa policies and ongoing safety concerns in Thailand and the Philippines, leading more Chinese tourists to choose Hong Kong and Macau as their destinations, Goldman Sachs released a research report saying.

Regarding stocks, SANDS CHINA LTD (01928.HK)  -0.180 (-0.874%)    Short selling $21.42M; Ratio 14.552%   is the broker's top pick, as its stock price has not fully reflected its ability to regain market share and dividend growth potential, despite recent adjustments in promotional activities and re-investment rates that may pressure 3Q25 profit margins, posing short-term downside risks. Therefore, Goldman Sachs rated SANDS CHINA LTD at Buy, with a target price of $24.8.

Related NewsCiti Cuts Macau Sep GGR Forecast to MOP19.5B; Industry Sources: Mass GGR Drops 10%+ MoM
Moreover, the broker was also optimistic about GALAXY ENT (00027.HK)  -0.520 (-1.254%)    Short selling $9.95M; Ratio 3.914%   , and saw upside room for market share, driven by the new Capella hotel and busy event schedule. Goldman Sachs rated GALAXY ENT at Buy, with a target price of $55.9.

As for MGM CHINA (02282.HK)  -0.280 (-1.752%)    Short selling $3.52M; Ratio 7.396%   , its valuation is considered the most attractive, with the broker estimating the company to maintain a 15-16% market share and a dividend yield of 5.1%, potentially absorbing some gaming volume from soon-to-close satellite casinos. Goldman Sachs rated MGM CHINA at Buy, with a target price of $20.4.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-09-18 12:25.)

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