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<Research>UBS Expects MGM CHINA (02282.HK) Property Upgrades to Help Maintain Mkt Shr This Yr; Rating Buy
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MGM CHINA (02282.HK)'s management recently participated in its 2026 GCC, UBS published a research report saying. MGM CHINA expected that, driven by the continued strength in the premium market, the industry's daily average GGR will grow at a mid-single-digit rate in 2026. MGM CHINA is supporting property upgrades, including converting 160 rooms into 60 suites in Cotai and launching a new premium mass area in 1H26, the broker noted. Upon completion, the total number of suites will increase from 290 to 350. The Company estimated 2026 market share to remain at 15-17% levels, and anticipated the property's EBITDA profit margin to stay at a mid-high 20% level, with operating expenses (opex) likely being in line with revenue growth. Therefore, UBS rated MGM CHINA at Buy, with a 12-month target price of $18.5. AASTOCKS Financial News Website: www.aastocks.com |
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