Gaming stocks continued their upward trajectory. At the time of writing, Melco Int'l Dev (00200) rose 5.93% to HK$4.82; Sands China Ltd (01928) increased 3.54% to HK$18.73; GALAXY ENT (00027) was up 2.58% at HK$43.76; and MGM CHINA (02282) gained 2.13%, trading at HK$13.42.

The positive movement follows data from Macau's Gaming Inspection and Coordination Bureau showing January's gross gaming revenue reached MOP 22.633 billion, a year-on-year increase of 24.0%. According to reports, Macau hotel operators indicated that booking rates and travel agency orders for the Spring Festival period are continuously rising, with hotel occupancy expected to surpass 90% during the holiday, marking a peak reception period for Macau's tourism market.

Morgan Stanley released a report noting that during the first five days of last year's National Day Golden Week, Macau's average daily gaming revenue was approximately MOP 1.1 billion. Given that occupancy rates for this year's Lunar New Year holiday are comparable to that period, coupled with an Average Daily Rate about 25% higher, the investment bank expects gaming revenue for the Lunar New Year holiday to be similar to, or even stronger than, last year's Golden Week. Based on the higher occupancy rates, the bank anticipates post-holiday demand will persist for a longer duration, supporting its expectation for a 13% year-on-year increase in February's gross gaming revenue. Furthermore, Morgan Stanley forecasts a 16% year-on-year growth in the industry's EBITDA for the first quarter of this year, which may lead to upward revisions in market profit estimates.