HK Stock Market Move | GALAXY ENT(00027) surged over 3% with optimistic expectations of strong growth in gaming revenue during the Spring Festival holiday and increase in tourists.

GALAXY ENT (00027) rose more than 3%, as of the time of writing, it rose 2.92% to HK$43.7, with a turnover of HK$2.06 billion. On the news front, according to market media reports, recently, Ho Iat Seng, chairman of the Macau Tourism Industry Council, expects that during the 9-day Lunar New Year holiday, the daily average number of visitors to Macau will be around 160,000 to 170,000. Ho Iat Seng also noted that the current hotel reservation rate in Macau has exceeded 90%, and tourists can still book rooms for around MOP 1,000 to MOP 2,000 per night, while the room rates in international star-rated hotels in Cotai are even higher, ranging from MOP 3,000 to MOP 4,000. GALAXY ENT responded to the inquiry by pointing out that the demand for their resorts during the holiday period is strong, with hotel room bookings almost fully booked and significant demand for dining reservations. Benefiting from the long holiday period and the increase in visitors to Macau, they expect hotel room rates and overall customer spending to grow steadily compared to the same period last year. They also expect the volume of tourists during the holiday period to remain robust. The group is optimistic that the Chinese New Year holiday and the increase in visitors will strongly drive steady growth in casino revenue, and they are confident that this will contribute positively to the overall business performance.