HK Stock Market Move | Gambling stocks fell across the board today. Gambling revenue in November may experience a significant decline compared to the previous month. Mega banks claim that retail remains weak.

The gambling stocks fell today, as of press time, Sands China (01928) fell 5.11% to HK$19.5; GALAXY ENT (00027) fell 4.17% to HK$34.45; MGM CHINA (02282) fell 4% to HK$9.59; WYNN MACAU (01128) fell 4.06% to HK$5.67. Macquarie released a research report estimating that Macau's November gambling revenue reached between 16.9 billion and 17.9 billion Macau patacas, equivalent to a year-on-year increase of 5% to 12%, but a month-on-month decrease of 14% to 19%. The bank pointed out that the trend of gambling revenue in November weakened due to seasonal factors, while the recovery of inbound tourists met expectations, with over 30 million visitors as of November 10, reaching 91% of the Macau government's annual target. However, retail remained weak, with total tourist spending in the third quarter falling by 6% to 18.4 billion Macau patacas year-on-year, and per capita shopping expenditure dropping by 18.6%, especially for tourists from mainland China, with a decrease of 20%. Citigroup expressed doubts about the market share of VIP rooms. The win rate in VIP rooms fell by 15% month-on-month, and the win rate in the mass market fell by 13% to 15%, reflecting the higher base of the Golden Week last month. The bank maintained its forecast of 18 billion in total Macau gambling revenue for November, implying an average of about 6.15 billion in GGR for the remaining time this month. Industry insiders estimate that Macau's gambling revenue for the first 10 days of November may reach around 5.7 billion Macau patacas per day, representing an increase of about 1% compared to the last 11 days of October.