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<Research>Citi Predicts MO GGR to Rise 7% to MOP242.5B in 2025; Top Pick SANDS CHINA LTD
Recommend 12 Positive 44 Negative 14 |
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Citi has issued a research report predicting Macau's gross gambling revenue (GGR) to rise 7% YoY to MOP242.5 billion in 2025 as driven by increased visitation, smart tables, and new side bets, while the industry EBITDA will grow 13% YoY. The broker also forecasted that GGR will hike 8% YoY to MOP261.9 billion in 2026. The broker continued to favor operators with new supply entering the market, with SANDS CHINA LTD (01928.HK) as its top pick in the sector since Londoner Grand is set to fully open in 2Q25. The rest of the pecking order: GALAXY ENT (00027.HK) > Melco Resorts & Entertainment (MLCO.US) > MGM CHINA (02282.HK) > WYNN MACAU (01128.HK) > SJM HOLDINGS (00880.HK). In addition, SANDS CHINA LTD's parent company, Las Vegas Sands (LVS.US), remained the broker's Global Top Pick. Citi's investment ratings and target prices for casino stocks are listed as follows: Stock | Investment Rating | Target Price GALAXY ENT (00027.HK) | Buy | $64 Melco Resorts & Entertainment (MLCO.US) | Buy | US$11.5 MGM CHINA (02282.HK) | Buy | $17 SANDS CHINA LTD (01928.HK) | Buy | $26.3 SJM HOLDINGS (00880.HK) | Sell | $2.85 WYNN MACAU (01128.HK) | Buy | $8.3 AAStocks Financial News |
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