Macquarie: Galaxy Entertainment is the preferred choice for the Macau gaming industry, given a "outperform market" rating.

According to research report by Morgan Stanley, industry data shows that in the past week leading up to May 11th, average daily gaming revenue in Macau was approximately 575 million Macau Patacas, a 1% decrease compared to the same period last year, reflecting a rapid return to normal levels after the long holiday. The report cites estimates from third-party data suppliers that the remaining days of this month will see daily gaming revenue ranging from 570 million to 630 million Macau Patacas, indicating a forecasted gaming revenue of 200 billion to 212 billion Macau Patacas for May, equivalent to a decrease of 1% to an increase of 5% year on year. Morgan Stanley stated that Galaxy Entertainment performed strongly during the May Day Golden Week, while Melco Resorts still has growth momentum after the holiday, predicting that the stock prices of Macau gaming companies are still likely to fluctuate with gaming revenue data. The bank pointed out that their top pick in the industry is Galaxy Entertainment, citing its strong property development and ample hotel room inventory, and also expects Sands China to gain more market share in the second quarter of this year, giving both a "outperform the market" rating.