HK Stock Market Move | Gambling stocks continue to rise, Macau's gambling revenue in June exceeded expectations, Citigroup expects the growth momentum to continue in the second half of the year.

The gambling stocks continued to rise. As of the time of writing, MGM China (02282) rose 3.1% to HK$13.96; Melco Int'l Dev (00200) rose 3.06% to HK$4.72; Sands China (01928) rose 1.96% to HK$17.66; Wynn Macau (01128) rose 1.91% to HK$5.86. On the news front, the Gaming Inspection and Coordination Bureau of Macau announced that the gross gambling revenue in Macau in June this year was MOP 21.064 billion, an increase of 19% compared to the same period last year, exceeding market expectations. The accumulated gross gambling revenue in Macau for the first six months of this year reached MOP 118.771 billion, an increase of 4.4% year-on-year. Citigroup stated that despite the continuing geopolitical tensions and economic uncertainties, players are still enthusiastic about gambling. The bank remains optimistic about the Macau gambling industry and expects the growth momentum in gambling revenue to continue in the second half of this year, with a projected year-on-year growth of 6%.