Galaxy Entertainment leads rally among Macau gaming stocks on higher visitor traffic in Golden Week

Sands China

07/10/2024 07:13

** Shares of Galaxy Entertainment group  0027.HK  jump as
much as 10.6% to HK$43.80, their highest since Feb 26, and leads
rally among Macau gaming stocks on strong growth in visitor
arrivals during China's National Day holidays
    ** Macao Tourism Data showed that the gaming hub received a
total of 916,301 visitors between Oct. 1 and Oct. 6,
representing a daily average of 152,716 visitors, which is up
32.3% Y/Y
    ** Of the total numbers, mainland visitor arrivals amounted
to 773,985 during the six-day period, representing a daily
average of 128,997, an increase of 47.2% Y/Y, the data showed
    ** "We believe the robust visitor traffic in Golden Week
reflects Macau's attractiveness as a tourist attraction," UBS
wrote in a research note
    ** Shares of rivals jump with Sand China  1928.HK  up 8.1%,
Melco International  0200.HK  rise 6.3%, SJM  0880.HK  up 5%,
Wynn Macau  1128.HK  climb 4.4% and MGM China  2282.HK  add 4.3%
 
    ** Hang Seng Commerce & Industry Index  .HSNC  rises 1.4%
and Hang Seng Index  .HSI  gains 1%
    
    
    

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