Group 1 - The Hong Kong gaming stocks experienced a collective decline, with specific companies like Galaxy Entertainment and Sands China seeing drops of over 5% [1][2] - The Macau government anticipates that the tourism industry will continue to develop in the next fiscal year (2026), estimating the total gaming revenue for next year to be 236 billion MOP [1] - Earlier, the government had revised its gaming revenue forecast for 2025 from 240 billion MOP down to 228 billion MOP [1] Group 2 - Morgan Stanley's report indicates that the growth rate for November may slow down to between 8% and 10% compared to October due to a more challenging base [1]

Group 1 - The core viewpoint of the article highlights a positive trend in the Hong Kong gaming stocks, with significant increases in share prices for major companies such as Melco International Development and Galaxy Entertainment, driven by encouraging data on Macau's gaming revenue [1] - Citigroup's research report indicates that Macau's gaming revenue for the first nine days of November is approximately 6.4 billion MOP, resulting in an average daily revenue of about 711 million MOP, which is seen as a positive sign given the transitional month between October's Golden Week and December's holidays [1] - The report conservatively maintains a forecast of 20.5 billion MOP for November's total gaming revenue, suggesting an expected average daily revenue of around 671 million MOP for the remaining days of the month [1] Group 2 - The Macau Statistics and Census Service reported that non-gaming consumption by tourists reached 20.38 billion MOP in Q3 2025, representing a year-on-year increase of 10.7%, with overnight and non-overnight visitors contributing to the growth [1] - Spending by overnight visitors totaled 16.76 billion MOP, up 7.6%, while spending by non-overnight visitors surged by 27.6% to 3.62 billion MOP [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 滙彩控股有限公司 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01180 | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000,000 | HKD | | 0.001 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000,000 | HKD | | 0.001 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 FF301 第 1 頁 ...

Group 1 - The core viewpoint of the article highlights the continued rebound of Hong Kong gaming stocks, with significant gains observed in companies such as Sands China and Galaxy Entertainment [1] - The Macao Gaming Inspection and Coordination Bureau reported that the lucky gaming revenue for Q3 this year reached 62.57 billion Macao Patacas, marking a 12.53% increase compared to 55.602 billion Patacas in the same period last year, and a 2.4% quarter-on-quarter rise [1] - According to a report from Credit Lyonnais, the growth in industrial profits in mainland China is expected to sustain the growth of Macao's gaming revenue, with investors favoring high-quality enterprises [1] Group 2 - The gaming sector is currently trading at an enterprise value to EBITDA (EV/EBITDA) multiple of 9.4 times for 2026, which is below the normalized range of 11 to 12 times for the sector in Macao [1] - Credit Lyonnais maintains its existing forecasts and ratings, identifying Galaxy Entertainment and MGM China as preferred stocks within the sector [1] - The article lists the latest stock prices and percentage changes for various gaming companies, with Sands China up 4.11%, Galaxy Entertainment up 3.37%, and others showing modest gains [1]

Group 1 - The core viewpoint of the article highlights a rebound in Hong Kong's gaming stocks, with significant increases in share prices for major companies such as Melco International Development, Sands China, and Wynn Macau, all rising by 4.6% [1] - China International Capital Corporation (CICC) maintains its forecast for total gaming revenue in Macau for 2025 while raising the forecast for 2026, expecting annual growth of 9% and 5% for the next two years, respectively, recovering to 84% and 88% of 2019 levels [1] - The expected growth in mass gaming revenue is projected at 7% and 6% for the next two years, recovering to 119% and 126% of 2019 levels, while VIP gaming revenue is expected to grow by 19% in 2025 and decline by 5% in 2026, recovering to 29% and 28% of 2019 levels [1] Group 2 - CICC is particularly optimistic about MGM China and Sands China, forecasting adjusted EBITDA for the third quarter at HKD 2.352 billion and USD 590 million, representing year-on-year increases of 19% and 1%, respectively [1] - Target prices for MGM China and Sands China are set at HKD 19.8 and HKD 23.8, with both companies rated as "outperforming the industry" [1]

Group 1 - The core viewpoint of the article indicates a general decline in gaming stocks, with specific companies experiencing notable drops in share prices [1] - According to HSBC Global Research, Macau's total gaming revenue (GGR) for the first 12 days of October was 9.65 billion MOP, with an average daily revenue of 593 million MOP in the second week, reflecting a year-on-year decline of 8% and a week-on-week decline of 46%, which is higher than the historical average decline of 39% [1] - Citigroup has revised its forecast for October's total gaming revenue down from 23 billion MOP to 22 billion MOP, which is approximately 83% of October 2019 levels and represents a year-on-year increase of 6% [1] Group 2 - The slowdown in overall gaming revenue growth in Macau suggests limited short-term upside potential for gaming stocks, despite potential support from a low base in December for Q4 revenue growth [1] - Specific declines in stock prices include Melco International Development down 3.21% to 4.53 HKD, Suncity Group Holdings down 2.56% to 0.76 HKD, Sands China down 1.65% to 17.93 HKD, and Wynn Macau down 1.56% to 6.3 HKD [1]

Core Viewpoint - The gaming stocks in Macau are experiencing a decline, with significant drops in share prices for major companies, attributed to a slowdown in gaming revenue growth [1] Group 1: Stock Performance - New World Development (00200) decreased by 3.21%, trading at HKD 4.53 [1] - Suncity Group Holdings (01180) fell by 2.56%, trading at HKD 0.76 [1] - Sands China (01928) dropped by 1.65%, trading at HKD 17.93 [1] - Wynn Macau (01128) declined by 1.56%, trading at HKD 6.3 [1] Group 2: Revenue Insights - The total gaming revenue (GGR) for Macau in the first 12 days of October was MOP 9.65 billion, with an average daily revenue of MOP 593 million for the second week of October [1] - Year-on-year, the daily revenue decreased by 8%, and week-on-week, it fell by 46%, which is slightly above the historical average decline of 39% [1] Group 3: Future Projections - HSBC Global Research suggests that despite a low base in December, the short-term upside for gaming stocks is limited due to the slowdown in total gaming revenue growth [1] - Citigroup revised its estimate for total gaming revenue in October from MOP 23 billion to MOP 22 billion, which is approximately 83% of the revenue from October 2019, reflecting a year-on-year increase of 6% [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 滙彩控股有限公司 | | | | | | 呈交日期: | 2025年10月2日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 01180 | 說明 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 法定/註冊股份數目 | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000,000 | HKD | 0.001 | HKD | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | ...

Group 1 - The core viewpoint of the article highlights a positive outlook for Macau's gaming stocks, driven by an expected increase in tourist arrivals during the upcoming National Day holiday, with daily visitor numbers projected to reach 150,000 [1] - The Macau tourism director expressed optimism regarding hotel occupancy rates during the holiday period, indicating a favorable environment for the gaming industry [1] - Analysts emphasize that the volume of tourists is a critical driver for Macau's gaming sector, predicting that the anticipated daily visitor flow will significantly boost casino traffic and revenue, particularly from mass market gaming [1] Group 2 - Key gaming stocks such as Wynn Macau, Melco International Development, and Sands China have shown notable price increases, with Wynn Macau rising by 4.6% and Sands China by 3.58% [1] - The article suggests focusing on leading companies with balanced business layouts and strong non-gaming capabilities, such as Sands China, Galaxy Entertainment, and Melco International Development, for potential investment opportunities [1] - There is a cautionary note regarding the need to monitor the sustainability of consumer recovery and changes in the competitive landscape of the industry in the medium to long term [1]

於本公司網站刊發公司通訊的通知 PARADISE ENTERTAINMENT LIMITED 滙彩控股有限公司* （於百慕達註冊成立之有限公司） （股份代號：1180） 致本公司的非註冊股東(1)： • 2025中期報告 請於本公司網站內的「投資者關係」一欄內按「財務報告」以閱覽本次公司通訊。本次公司通訊亦已載於「披露易」 網站www.hkexnews.hk。如 閣下早前已要求接收公司通訊之印刷本，則隨函附上本次公司通訊之印刷本。 為了可透過電郵進行電子通訊，本公司建議非註冊股東向代 閣下持有股份的銀行、經紀、託管人或代理人（統 稱「中介機構」）提供有效的電郵地址，以便可透過電郵向 閣下發送有關所有日後公司通訊的網站版本的通知信 函。 倘 閣下擬收取本次公司通訊之印刷本及╱或日後公司通訊之印刷本，請填妥隨附之非註冊股東申請表格（「申請 表格」），然後簽署及以郵寄方式交回本公司的香港股份登記分處（「香港股份登記分處」）卓佳證券登記有限公司 （地址為香港夏慤道16號遠東金融中心17樓）（申請表格下方附有已預付郵費的郵寄標籤）或電郵方式發送至 is-ecom@vistra.com。在收到 閣下之要求後，本公司將免費 ...