Group 1 - The core viewpoint of the article highlights the strong performance of the gaming sector in Hong Kong, particularly Galaxy Entertainment, which saw a 2.5% increase in stock price, closing at 42.66 HKD, indicating significant capital inflow [1] - Galaxy Entertainment has shown a clear improvement in technical patterns, with multiple indicators supporting further short-term upward movement [1] - The stock is currently above all major moving averages, with the 10-day moving average at 41.66 HKD, significantly higher than the 30-day and 60-day moving averages, forming a bullish arrangement [1] Group 2 - The primary resistance level for Galaxy Entertainment is at 43.3 HKD, and if this is surpassed, the next target will be 44.4 HKD; key support is at 41.2 HKD, with stronger support at 40.6 HKD [1] - Despite technical indicators suggesting a "sell" signal, several oscillators like momentum and volatility indicators are issuing "buy" signals, indicating a divergence that investors should analyze further [1] - The MACD indicator maintains a buy signal, but the psychological line shows a top divergence, which may suggest a weakening of short-term upward momentum [3] Group 3 - Recent performance of warrants linked to Galaxy Entertainment shows significant leverage effects, with a 9% increase in a warrant product following a 1.97% rise in the stock price [3] - For investors optimistic about future performance, four warrants are highlighted: Morgan Stanley's warrant with a leverage of 7.3 times and a strike price of 50.93 HKD, and HSBC's warrant with a leverage of 7.9 times, both offering low premiums [6] - UBS and Bank of China warrants provide leverage of 7.6 times and 7.78 times respectively, with a balanced configuration in terms of premium and implied volatility [6] Group 4 - When selecting warrants, investors should focus on the stability of implied volatility to avoid incurring additional costs during periods of volatility expansion [8] - The article encourages engagement with the "Hong Kong Stock Warrant Jenny" account for ongoing professional market analysis and insights into warrant products of interest [8]

每经AI快讯，9月26日，港股博彩股午后涨幅扩大，截至发稿，新濠国际发展(00200.HK)涨5.03%，报 5.64港元；银河娱乐(00027.HK)涨3.08%，报42.9港元；澳博控股(00880.HK)涨2.59%，报3.17港元；美 高梅中国(02282.HK)涨1.72%，报16.01港元。 ...

博彩股午后涨幅扩大，截至发稿，新濠国际发展(00200)涨5.03%，报5.64港元；银河娱乐(00027)涨 3.08%，报42.9港元；澳博控股(00880)涨2.59%，报3.17港元；美高梅中国(02282)涨1.72%，报16.01港 元。 高盛此前发布研报称，对于十一黄金周，基于酒店预订几乎"爆满"，以及与客户沟通的情况，博彩企业 普遍预期需求强劲，而全国运动会则不会对博彩收入有显著影响。中泰国际分析亦指出，若9月与国庆 期间的游客数量与赌场收入较好，对龙头博彩股将受益。 消息面上，为防范超强台风"桦加沙"，澳门特区政府于9月23日下午5时关闭赌场，至9月25日凌晨2时重 开，历时33小时。汇丰表示，赌场停业或进一步抑制国庆黄金周前的淡季需求。但分析人士表示，中秋 国庆"超级黄金周"已然临近，旅游业的强劲复苏也为博彩股带来长期信心。 ...

智通财经APP获悉，博彩股午后涨幅扩大，截至发稿，新濠国际发展(00200)涨5.03%，报5.64港元；银 河娱乐(00027)涨3.08%，报42.9港元；澳博控股(00880)涨2.59%，报3.17港元；美高梅中国(02282)涨 1.72%，报16.01港元。 高盛此前发布研报称，对于十一黄金周，基于酒店预订几乎"爆满"，以及与客户沟通的情况，博彩企业 普遍预期需求强劲，而全国运动会则不会对博彩收入有显著影响。中泰国际分析亦指出，若9月与国庆 期间的游客数量与赌场收入较好，对龙头博彩股将受益。 消息面上，为防范超强台风"桦加沙"，澳门特区政府于9月23日下午5时关闭赌场，至9月25日凌晨2时重 开，历时33小时。汇丰表示，赌场停业或进一步抑制国庆黄金周前的淡季需求。但分析人士表示，中秋 国庆"超级黄金周"已然临近，旅游业的强劲复苏也为博彩股带来长期信心。 ...

里昂发布研报称，在所有澳门持牌博彩公司当中，银河娱乐(00027)拥有最稳健的现金储备，最有条件 运用财务杠杆，提升股东回报率(ROE)。潜在资金部署方式包但不限于投资区内机会及增加派息。无论 选择哪种方式，均有助提升资本效益，令ROE(透过财务杠杆)上升。该行维持银河娱乐"跑赢大市"评级 及目标价50.3港元。银娱是该行在澳门博彩股的两大首选之一，净现金相当于当前市值的17%。 随着资产负债表质素持续改善，该行指银娱资金部署弹性甚大，其2025年第二季净现金(303亿港元，即 39亿美元)占最新市值的17%。该行在早前中信里昂投资者论坛收到的投资者反馈显示，投资者普遍欢 迎增加派息(包括特别股息)，特别是业界均认同行业增长结构性放缓。该行预测期内银娱ROE(年化约 13%)将低于2017-2019年的18-22%年化水平。 根据杜邦(DuPont)(是一种分解股东权益报酬率(ROE)结构、解析企业获利能力的财务分析方法)分析， 这主要受较低资产周转率(澳门整体博彩收入仍未恢复至2019年水平)及较低财务杠杆(总资产/总股本)所 影响。资产周转率主要由行业收入决定，但银娱可透过增加派息(包括特别股息)提升RO ...

根据杜邦(DuPont)(是一种分解股东权益报酬率(ROE)结构、解析企业获利能力的财务分析方法)分析， 这主要受较低资产周转率(澳门整体博彩收入仍未恢复至2019年水平)及较低财务杠杆(总资产/总股本)所 影响。资产周转率主要由行业收入决定，但银娱可透过增加派息(包括特别股息)提升ROE。 另一方面，银娱亦需保留资金，以把握泰国娱乐综合体的投资机会。该行理解每个博彩牌照实体最低需 投资1,000亿泰铢(约31亿美元)，但现时法规时间及牌照招标进度尚未明确。该行维持原有投资逻辑，看 好银娱提升市占率的潜力，以及仍有空间提高派息比率。里昂料银娱2025年至2027年每股派息143.4港 仙、150.3港仙及163.4港仙，提供股息回报3.5厘、3.7厘及4厘，料其2025年至2027年ROE分别为 13.3%、13.2%及13.7%。 智通财经APP获悉，里昂发布研报称，在所有澳门持牌博彩公司当中，银河娱乐(00027)拥有最稳健的现 金储备，最有条件运用财务杠杆，提升股东回报率(ROE)。 潜在资金部署方式包但不限于投资区内机会 及增加派息。无论选择哪种方式，均有助提升资本效益，令ROE(透过财务杠杆)上升。 ...

Group 1 - Macau's gaming revenue reached a record high of 22.16 billion MOP in August, marking a 0.14% month-on-month increase and a 12.2% year-on-year increase, surpassing the estimated growth of 12.0% [1][1][1] - From January to August, the total gaming revenue amounted to 163.05 billion MOP, reflecting a year-on-year growth of 7.2% [1][1][1] - Haidong International forecasts that September will see a vibrant array of activities, likely boosting visitor numbers and gaming gross revenue (GGR) during the off-peak season [1][1][1] Group 2 - Goldman Sachs attributes the strong performance of Macau's gaming companies to a combination of major events, wealth effects driven by the stock market, relaxed visa policies, and ongoing safety concerns in Thailand and the Philippines, which have led more mainland tourists to choose Hong Kong and Macau as destinations [1][1][1] - For the upcoming National Day Golden Week, gaming companies anticipate strong demand based on nearly full hotel bookings and communication with clients, while the National Games are not expected to significantly impact gaming revenue [1][1][1]

大行评级｜里昂：银河娱乐现金储备稳健 维持"跑赢大市"评级并列为行业首选之一 大行评级｜大摩： 上调银河娱乐目标价至44港元 评级"与大市同步" 里昂发表报告指，在所有澳门持牌博彩公司当中，银河娱乐拥有最稳健的现金储备，最有条件运用财务 杠杆提升股东回报率(ROE)。该行维持对银河娱乐的"跑赢大市"评级及目标价50.3港元，是该行在澳门 博彩股的两大首选之一。里昂预计银娱2025年至2027年每股派息143.4港仙、150.3港仙及163.4港仙，提 供股息回报3.5厘、3.7厘及4厘，期内ROE分别为13.3%、13.2%及13.7%。 相关事件 ...

Group 1 - The gaming stocks experienced significant gains in early trading, with Wynn Macau rising by 7.07% to HKD 7.12 [1] - Melco International Development increased by 6.79% to HKD 5.66 [1] - Sands China saw a rise of 5.80%, reaching HKD 21.52 [1] - Galaxy Entertainment rose by 5.35%, trading at HKD 42.92 [1]

Group 1 - The core viewpoint of the article highlights the strong performance of Macau's gaming stocks, with significant increases in share prices for major companies such as Wynn Macau, Melco International Development, Sands China, and Galaxy Entertainment [1] - Macau's gross gaming revenue (GGR) for August reached a record high of 22.16 billion MOP, marking a month-on-month increase of 0.14% and a year-on-year increase of 12.2% [1] - For the first eight months of the year, the total GGR in Macau amounted to 163.05 billion MOP, reflecting a year-on-year growth of 7.2% [1] Group 2 - According to Haitong International, the upcoming September is expected to see a boost in visitor numbers and GGR due to various exciting events planned, despite it being a traditionally low season [1] - Goldman Sachs attributes the recent strong performance of Macau's gaming companies to several factors, including a series of major events, wealth effects driven by the stock market, relaxed visa policies, and ongoing safety concerns in Thailand and the Philippines, which have led more mainland travelers to choose Hong Kong and Macau as destinations [1] - For the upcoming National Day Golden Week, gaming companies anticipate strong demand based on nearly full hotel bookings and communication with clients, while the National Games are not expected to significantly impact gaming revenue [1]