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<Research>M Stanley Expects MO May GGR to Stay Flat YoY, Sees Downside Risk for Casinos' Consensus EBITDA
Macau's GGR rose by 1.7% YoY to MOP18.86 billion last month, reaching 80% of the level seen in April 2019, Morgan Stanley wrote in its report. The growth rate outpaced the 0.8%...
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<Research>M Stanley Expects MO May GGR to Stay Flat YoY, Sees Downside Risk for Casinos' Consensus EBITDA
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Macau's GGR rose by 1.7% YoY to MOP18.86 billion last month, reaching 80% of the level seen in April 2019, Morgan Stanley wrote in its report. The growth rate outpaced the 0.8% and 0.5% seen in March and 1-2M25 respectively. The broker predicted Macau's GGR to stay flat YoY at MOP20.2 billion this month.

The report also mentioned that SANDS CHINA LTD (01928.HK)  -0.140 (-0.897%)    Short selling $203.41M; Ratio 40.754%   and MGM CHINA (02282.HK)  -0.100 (-0.890%)    Short selling $21.20M; Ratio 31.050%   reported a 15% YoY drop in 1Q adjusted EBITDA. With Macau's GGR growing less than 5% YoY, the broker expected continued downward revisions to the market's earnings forecasts for casino stocks, and that there would be a risk to the market's forecasts of a 5% YoY decline in 1Q EBITDA and a 5% YoY increase in the full-year EBITDA.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-08 16:25.)

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