Morgan Stanley Expects Double-Digit Growth in Macau Gaming Revenue for Q4 and Q1 2025, Favors MGM China (02282) and Galaxy Entertainment (00027)

Stock News

Dec 10

Morgan Stanley has released a research report forecasting a 17% year-on-year increase in Macau's Q4 gaming revenue, with industry EBITDA expected to grow by 15%, surpassing market consensus. The firm maintains MGM China (02282) and Galaxy Entertainment (00027) as top picks, anticipating that Q4 performance will drive upward revisions in market earnings estimates.

The report projects double-digit growth in gaming revenue for both Q4 and Q1 2025, supported by potential dividend increases, which could further bolster valuations of gaming operators. Morgan Stanley expects Q4 property EBITDA for gaming operators to rise 15% quarter-on-quarter and 6% year-on-year, with possible margin improvements despite high operating costs.

Galaxy Entertainment (00027) received an "Equal Weight" rating due to its lower dividend yield and higher EV multiples, with its target price adjusted downward from HK$44 to HK$43. Meanwhile, Sands China (01928) was given an "Overweight" rating, reflecting its push for greater market share and potential dividend growth, with its target price maintained at HK$23.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1102566896"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1102566896\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/1102566896?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-12-10 13:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1102566896","market":"sg","top_or_hot":-1,"title":"Morgan Stanley Expects Double-Digit Growth in Macau Gaming Revenue for Q4 and Q1 2025, Favors MGM China (02282) and Galaxy Entertainment (00027)","media":"Stock News","content":"<p>Morgan Stanley has released a research report forecasting a 17% year-on-year increase in Macau's Q4 gaming revenue, with industry EBITDA expected to grow by 15%, surpassing market consensus. The firm maintains MGM China (02282) and Galaxy Entertainment (00027) as top picks, anticipating that Q4 performance will drive upward revisions in market earnings estimates.</p>\n<p>The report projects double-digit growth in gaming revenue for both Q4 and Q1 2025, supported by potential dividend increases, which could further bolster valuations of gaming operators. Morgan Stanley expects Q4 property EBITDA for gaming operators to rise 15% quarter-on-quarter and 6% year-on-year, with possible margin improvements despite high operating costs.</p>\n<p>Galaxy Entertainment (00027) received an \"Equal Weight\" rating due to its lower dividend yield and higher EV multiples, with its target price adjusted downward from HK$44 to HK$43. Meanwhile, Sands China (01928) was given an \"Overweight\" rating, reflecting its push for greater market share and potential dividend growth, with its target price maintained at HK$23.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley Expects Double-Digit Growth in Macau Gaming Revenue for Q4 and Q1 2025, Favors MGM China (02282) and Galaxy Entertainment (00027)</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley Expects Double-Digit Growth in Macau Gaming Revenue for Q4 and Q1 2025, Favors MGM China (02282) and Galaxy Entertainment (00027)\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2025-12-10 13:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Morgan Stanley has released a research report forecasting a 17% year-on-year increase in Macau's Q4 gaming revenue, with industry EBITDA expected to grow by 15%, surpassing market consensus. The firm maintains MGM China (02282) and Galaxy Entertainment (00027) as top picks, anticipating that Q4 performance will drive upward revisions in market earnings estimates.</p>\n<p>The report projects double-digit growth in gaming revenue for both Q4 and Q1 2025, supported by potential dividend increases, which could further bolster valuations of gaming operators. Morgan Stanley expects Q4 property EBITDA for gaming operators to rise 15% quarter-on-quarter and 6% year-on-year, with possible margin improvements despite high operating costs.</p>\n<p>Galaxy Entertainment (00027) received an \"Equal Weight\" rating due to its lower dividend yield and higher EV multiples, with its target price adjusted downward from HK$44 to HK$43. Meanwhile, Sands China (01928) was given an \"Overweight\" rating, reflecting its push for greater market share and potential dividend growth, with its target price maintained at HK$23.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0348784397.USD","symbol_name":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","start_time":0,"source_url":"","article_id":"1102566896","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1102566896","pubTimestamp":1765344855,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Morgan Stanley has released a research report forecasting a 17% year-on-year increase in Macau's Q4 gaming revenue, with industry EBITDA expected to grow by 15%, surpassing market consensus. The firm...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","02282":"美高梅中国","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","01928":"金沙中国有限公司","BK1172":"赌场与赌博","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","LU0149534421.HKD":"SCHRODER ISF HONG KONG EQ \"A\" ACC","BK1589":"北水核心资产","LU0702159699.USD":"FIDELITY ASIAN SMALLER COMPANIES \"A\" (USD) ACC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU0607220059.USD":"SCHRODER ISF HONG KONG EQUITY \"A\" (USD) ACC","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0251144936.SGD":"Fidelity Sustainable Asia Equity A-SGD","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","BK1610":"ETF&股票定投概念","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","00027":"银河娱乐","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0651946864.USD":"贝莱德新兴市场股票收益A2","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU0173614495.USD":"富达中国焦点A","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1224709979.USD":"FIDELITY CHINA FOCUS \"A\" (USD) ACC","LU0594300419.USD":"富达中国消费基金A","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU0326950275.SGD":"Schroder ISF China Opportunities A Acc SGD-H","LU0048597586.USD":"富达亚洲焦点A","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","BK1521":"挪威政府全球养老基金持仓","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU1166156734.SGD":"Fidelity Asian Smaller Companies A-ACC-SGD"},"translate_title":"摩根士丹利预计澳门博彩收入2025年Q4和Q1双位数增长，看好美高梅中国(02282)和银河娱乐(00027)","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01928":1,"02282":1,"00027":1},"content_text":"Morgan Stanley has released a research report forecasting a 17% year-on-year increase in Macau's Q4 gaming revenue, with industry EBITDA expected to grow by 15%, surpassing market consensus. The firm maintains MGM China (02282) and Galaxy Entertainment (00027) as top picks, anticipating that Q4 performance will drive upward revisions in market earnings estimates.\nThe report projects double-digit growth in gaming revenue for both Q4 and Q1 2025, supported by potential dividend increases, which could further bolster valuations of gaming operators. Morgan Stanley expects Q4 property EBITDA for gaming operators to rise 15% quarter-on-quarter and 6% year-on-year, with possible margin improvements despite high operating costs.\nGalaxy Entertainment (00027) received an \"Equal Weight\" rating due to its lower dividend yield and higher EV multiples, with its target price adjusted downward from HK$44 to HK$43. Meanwhile, Sands China (01928) was given an \"Overweight\" rating, reflecting its push for greater market share and potential dividend growth, with its target price maintained at HK$23.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}