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2026-07-10 14:54:35 Macau's GGR in 2Q26 was dampened by the World Cup and some extremely unfavorable hold rates, leading to higher operating leverage, Citi published a research report saying. The broker estimated industry EBITDA in 2Q to decline to USD1.923 billion, down 7% YoY and 12% QoQ. However, as the industry's current valuation is nearly 2 SD below historical mean, the broker believed that negatives have been largely priced in. The broker named GALAXY ENT (00027.HK) and WYNN MACAU (01128.HK) as its sector top picks. Among them, the broker opened a 30-day Upside Catalyst Watch on GALAXY ENT (00027.HK), expecting the company to log the sharpest increase in EBITDA market share among operators in 2Q. In addition, the broker's preference ranking was MGM CHINA (02282.HK), SANDS CHINA LTD (01928.HK), Melco Resorts & Entertainment Limited (MLCO.US), and SJM HOLDINGS (00880.HK). Among them, the broker opened another 30-day Downside Catalyst Watch on SANDS CHINA LTD, expecting the company to record the largest decline in EBITDA market share during the period, with a projected drop of 2.5 ppts to around 27%. ~ AASTOCKS Financial News Website: www.aastocks.com | |