UBS: Macau's October gambling revenue beats expectations, expected to increase by 10% year-on-year in November.

UBS released a research report stating that the total gaming revenue in Macau in October was approximately 24.1 billion Macau dollars, a 16% year-on-year increase and a 32% increase from the previous month. This is equivalent to a daily average gaming revenue of about 7.77 billion dollars, exceeding market expectations, mainly due to the continued strong performance after the Golden Week. From October 6th to 31st, the daily average gaming revenue was about 7.15 billion dollars, although it dropped by about 35% from the core period of the Golden Week, it was still higher than September's 6.1 billion. The 35% decrease is also better than the historical level of 40%. The market expects that the total gaming revenue in November will return to normal, with a daily average of approximately 6.73 billion dollars, a 10% year-on-year increase and a 13% decrease from the previous month, roughly following the seasonal pattern from 2015 to 2019. In terms of stocks, the bank's top choices are WYNN MACAU(01128), MGM CHINA(02282), and GALAXY ENT(00027), all of which are given a "buy" rating with target prices of 8.4 Hong Kong dollars, 19.8 Hong Kong dollars, and 46.9 Hong Kong dollars respectively.