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<Research>Macquarie: MO GGR Slows Due to Seasonal Factors; Galaxy, Sands, MGM Favored
Recommend 11 Positive 25 Negative 17 |
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Macau's average daily GGR last week was estimated at MOP543 million, further down by 13%, reflecting the seasonal slowdown before the Lunar New Year (LNY) and lower-than-normal VIP hold, Macquarie said in its research report. The broker was positive on GALAXY ENT (00027.HK), followed by SANDS CHINA LTD (01928.HK) and MGM CHINA (02282.HK). The broker, citing third-party data, said that Melco Resorts & Entertainment (MLCO.US) gained the most market share in January, with an MoM increase of 2 ppts. Moreover, Sands China's market share rebounded to a two-year high. The broker noted that Sands China had earlier declared a DPS of 50 cents, up from 25 cents in the same period of 2024. Assuming the DPS remains at the same level in 2026, this implies a dividend yield of 4%. The broker believed the higher dividend payout reflects the company's healthy cash flow generation and management's positive outlook on business growth. AASTOCKS Financial News Website: www.aastocks.com |
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