Citigroup: Maintains its forecast of a 6% year-on-year growth in Macau's gaming revenue for the whole year.

Citi released a research report stating that the group conducted a survey on high-end mid-stakes gaming tables last week and found that Macau's gaming revenue was weak in June and July this year, believing this was mainly due to the impact of the World Cup rather than a structural downturn. The bank pointed out that high-end mid-stakes players' enthusiasm for gaming and non-gaming products in Macau remains undiminished. The survey shows that the average bet per hand of 31 heavyweight VIP customers increased by 54% year-on-year to HKD 243,500, reflecting that high-end players still have both the willingness and the capability to spend. The forecast of a 6% year-on-year growth in Macau's gaming revenue for the whole year remains unchanged, with industry stock picks being GALAXY ENT (00027), WYNN MACAU (01128), MGM CHINA (02282), Sands China (01928), Melco Resorts (MLCO.US), and SJM HOLDINGS (00880).