HK Stock Market Move | Gambling stocks collectively decrease, with expectations of a 10% year-on-year drop in total revenue for Macau gambling in June. The World Cup events have spread out gambling budgets for players in Macau.

Gambling stocks collectively fell, as of the deadline, MELCO INT'L DEV (00200) fell 3.27% to HKD 3.55; MGM CHINA (02282) fell 3.13% to HKD 10.21; SJM HOLDINGS (00880) fell 1.78% to HKD 1.66; WYNN MACAU (01128) fell 1.49% to HKD 5.29; Sands China (01928) fell 0.7% to HKD 14.16. On the news front, a Citigroup report pointed out that Macau's gross gaming revenue (GGR) will slow down in the short term due to the World Cup from June 11 to July 19. Historical analysis has shown that major football events can divert the gambling budgets of Macau players, and with an expanded schedule and more games this year (adding 16 teams and 32 more matches in the knockout stage), the impact could be more significant. Citigroup predicts that Macau's total gaming revenue will decline by 10% year-on-year in June, and by 5% in July, with a rapid recovery after strong post-game promotion. Citigroup stated that looking ahead, events such as concerts at the Galaxy Entertainment Complex and the Londoner Macao may help mitigate potential declines in gambling revenue. The bank currently maintains its forecast for June gaming revenue at MOP 19 billion, which means a 10% year-on-year decline, indicating that the daily average gaming revenue for the rest of this month is about MOP 625 million.