Galaxy Entertainment falls as co says not considering Philipines resort project

Sands China

16/10/2023 09:00

** Galaxy Entertainment  0027.HK  leads slide in Macau
gaming stocks, falling as much as 4.2% to HK$43.25
    ** Stock hits lowest level since Nov. 28, 2022 in the second
session of decline
    ** Galaxy says it is not considering re-entering Boracay of
Philippines to develop a resort and its focus is on the full
reopening of Macau
    ** Citi says Macau gross gaming revenue for the first 15
days of October is likely to have reached 10 bln pataca ($1.24
billion) with the implied daily run-rate of last week at 479 mln
pataca, 42% lower than the first eight days of October
    ** Slower daily run-rate reflects the impact of Typhoon
Koinu on Macau and the seasonal slowdown post the National Day
Golden Week, but traffic is expected to gradually pick up - Citi
    ** Shares of casino operators fall with SJM  0880.HK , MGM
China  2282.HK , Melco International  0200.HK , Sands China
 1928.HK  and Wynn Macau  1128.HK  down 1% to 3%
    ** Hang Seng Commerce & Industry Index  .HSNC  falls 1.1%, 
Hang Seng Index  .HSI  slips 0.9%

($1 = 8.0530 patacas)

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