Galaxy leads rise in Macau gaming stocks ahead of China's May Day holiday

Galaxy Entertainment

28/04/2023 09:11

** Galaxy Entertainment  0027.HK  leads gains in Macau
gaming stocks ahead of the May Day holiday, rising as much as
4.4% to HK$56.30
    ** Jefferies says Macau remains the near-term destination of
choice for Mainland Chinese, given the travel convenience and
expensive alternatives 
    ** "Macau is in the early stages of the recovery similar to
that of Las Vegas 18 months ago with GGR (Gross Gaming Revenue)
and visitation already stronger than expectations" - Jefferies 
    ** Macao Government Tourism Office says on Friday it will
launch promotion projects on May 1 to promote the city as a
travel destination during Labor Day holiday
    ** Shares of Wynn Macau  1128.HK , MGM China  2282.HK ,
Melco International  0200.HK , Sands China  1928.HK  and SJM
 0880.HK  rise between 1.3% and 2.3%
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.7% and the Hang Seng Index  .HSI  climbs 0.5%
    
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))