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<Research>UBS: MO Nov GGR Beats; Mkt Forecast for Dec Has Room for Upward Revision
Recommend 4 Positive 11 Negative 1 |
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In November, Macau's GGR amounted to around MOP21.1 billion, up around 14% YoY but down about 12% MoM, according to a report from UBS. The average daily GGR remained strong, reaching around MOP703 million, a MoM decrease of about 10%, yet still above the market expectation of around MOP679 million, presumably driven by faster demand growth at the end of November. The market is currently expecting the average daily GGR for December to hit around MOP675 million, up about 15% YoY but down around 4% MoM, a forecast that UBS believes has room for further upward revision, citing a MoM growth of around 1% recorded during the same period in 2015-19. UBS' top picks include GALAXY ENT (00027.HK), WYNN MACAU (01128.HK), and MGM CHINA (02282.HK), all rated as Buy. AAStocks Financial News |
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