Fubon: Macau's September gambling revenue is still relatively low compared to the summer months, optimistic about GALAXY ENT(00027)

CICC released a research report predicting that the National Day Golden Week in China will serve as a catalyst. Currently, MGM CHINA (02282) and WYNN MACAU (01128) are rated as "Buy" and "Hold" respectively. Additionally, GALAXY ENT (00027) is rated as "Buy." The report states that in the past week until September 15th, Macau's gaming revenue decreased by about 4.5% to an average of 5.66 billion Macau dollars per day, similar to the level of 5.93 billion Macau dollars in the first eight days of this month. From the beginning of the month until now, mass market and VIP gaming revenue have declined by 10% to 12% and 8% to 10% respectively, with VIP win rates reaching 3.1% to 3.4%. The report predicts that the daily gaming revenue for the remaining days of the month will range from 5.2 billion to 5.8 billion Macau dollars, with a total gaming revenue of 163 billion to 172 billion Macau dollars for September, a year-on-year growth of 9% to 15%, compared to the previous forecast of 168.5 billion to 179.5 billion Macau dollars. However, due to seasonal factors, it is expected that the gaming revenue in September will be lower compared to summer months. Investors are advised to focus on long-term stock selection, with a better outlook for GALAXY ENT.