CLSA released a research report projecting that the 1Q26 EBITDA of Macau’s gaming industry will hiked by 7% YOY to US$2.067 billion, driven by a 14% rise in gaming revenue.

The broker updated its earnings forecasts for various casinos to reflect the latest assumptions regarding rebates, operating expenses and non-gaming revenue, and lowered its target prices accordingly.

Related NewsCLSA Ratings, TPs on Casinos (Table)
GALAXY ENT (00027.HK)  -0.780 (-2.218%)    Short selling $123.15M; Ratio 19.332%   and SANDS CHINA LTD (01928.HK)  -0.150 (-0.872%)    Short selling $28.42M; Ratio 20.560%   remain CLSA’s sector top picks. The broker was bullish on GALAXY ENT’s solid balance sheet, market share and profit, while SANDS CHINA LTD offers the best visibility on dividend growth.

CLSA downgraded WYNN MACAU (01128.HK)  -0.030 (-0.532%)    Short selling $3.61M; Ratio 34.395%   from Outperform to Hold on limited further upside room for its earnings.

The table below is CLSA’s ratings and target prices for Macau casinos:

Related NewsCLSA: Limited Upside for Positive Surprise in Macau Gaming Sector; Top Picks GALAXY ENT (00027.HK) and SANDS CHINA LTD (01928.HK)
Stock | Rating | TP

GALAXY ENT (00027.HK)  -0.780 (-2.218%)    Short selling $123.15M; Ratio 19.332%   | Outperform | $48 -> $47.4
SANDS CHINA LTD (01928.HK)  -0.150 (-0.872%)    Short selling $28.42M; Ratio 20.560%   | Outperform | $21.4 -> $20
MGM CHINA (02282.HK)  -0.130 (-1.163%)    Short selling $14.31M; Ratio 24.080%   | Outperform | $19.3 -> $19.2
Melco Resorts & Entertainment (MLCO.US)      | Outperform | US$8.9 -> US$8.5
WYNN MACAU (01128.HK)  -0.030 (-0.532%)    Short selling $3.61M; Ratio 34.395%   | Outperform -> Hold | $6 -> $5.7
SJM HOLDINGS (00880.HK)  -0.050 (-2.381%)    Short selling $9.27M; Ratio 37.532%   | Underperform | $1.7
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-13 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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