Group 1 - The stock of Wynn Macau (01128.HK) increased by nearly 4% on October 20, reaching a price of 6.54 HKD per share [1] - As of the report, the stock was up 3.81% with a trading volume of 30.22 million HKD [1]

Core Viewpoint - Citigroup has issued a "Buy" rating for Wynn Macau, setting a target price of HKD 7.2, which corresponds to an estimated enterprise value to EBITDA (EV/EBITDA) multiple of approximately 7.3 times for 2026 [1] Group 1: Company Performance - Wynn Macau's stock has increased nearly 4%, currently trading at HKD 6.54 with a transaction volume of HKD 30.22 million [1] - Despite a continuous decline in market share since 2025, Citigroup believes that the completion of the "Chairman's Club" VIP gaming area expansion in the first quarter of next year will positively impact the company's performance [1] Group 2: Market Expectations - The market generally anticipates a year-on-year EBITDA growth of about 7% for Macau gaming operators in the third quarter of this year [1] - Citigroup projects that Wynn's EBITDA may increase by 17% year-on-year during the same period, indicating a potential outperformance compared to the market [1] - Wynn Macau has been placed on Citigroup's 30-day upward catalyst watchlist, suggesting that positive stock price momentum may occur around the time of the company's earnings announcement next month [1]

Core Viewpoint - Wynn Macau's stock has seen an increase of nearly 4%, currently trading at HKD 6.54, with a trading volume of HKD 30.22 million. Citigroup has issued a "Buy" rating with a target price of HKD 7.2, reflecting a projected enterprise value to EBITDA (EV/EBITDA) of approximately 7.3 times for 2026 [1]. Group 1: Company Performance - Citigroup is optimistic about Wynn Macau's increasing investment in the high-end mass gaming segment, despite a continuous decline in market share since 2025 [1]. - The completion of the "Chairman's Club" VIP gaming area expansion in the first quarter of next year is expected to positively impact Wynn's market position [1]. Group 2: Market Expectations - The market generally anticipates a year-on-year EBITDA growth of about 7% for Macau gaming operators in the third quarter of this year, while Citigroup forecasts a 17% year-on-year increase for Wynn during the same period [1]. - Wynn Macau has been placed on Citigroup's 30-day upward catalyst watchlist, suggesting potential positive stock price momentum ahead of the company's earnings announcement next month [1].

Core Viewpoint - Citigroup has placed Wynn Macau on a 30-day watchlist for upward catalysts, anticipating a potential outperformance in the stock price ahead of the company's earnings announcement next month [1] Group 1: Financial Performance Expectations - The market expects Macau gaming operators to see a year-on-year EBITDA growth of approximately 7% for the third quarter, while Citigroup projects Wynn's EBITDA to increase by 17% during the same period [1] - This anticipated strong performance is expected to translate into positive stock price momentum for Wynn [1] Group 2: Investment Rating and Target Price - Citigroup currently rates Wynn as a "Buy," highlighting the company's increasing investment in the high-end mass market segment [1] - Despite a continuous decline in market share for Wynn this year, it is believed that the completion of the Chairman's Club VIP gaming area expansion in the first quarter of next year will improve the situation [1] - The target price for Wynn is set at HKD 7.2, corresponding to an estimated enterprise value to EBITDA (EV/EBITDA) multiple of approximately 7.3 times for 2026 [1]

Core Viewpoint - Morgan Stanley forecasts a 9% year-on-year increase in Macau's gaming industry EBITDA for Q3, with gaming revenue expected to rise by 12.5%. However, the overall EBITDA margin is anticipated to decline both year-on-year and quarter-on-quarter [1] Industry Summary - The gaming industry in Macau is projected to see a year-on-year EBITDA increase of 9% for Q3 [1] - Gaming revenue is expected to grow by 12.5% in the same period [1] - The overall EBITDA margin is expected to decline compared to both the previous year and the previous quarter [1] - For Q4, gaming revenue is anticipated to grow by over 10% year-on-year [1] - The industry's EV/EBITDA forecast for this year is 10 times, which is lower than the 15-year average of 12.8 times, potentially allowing Macau gaming stocks to outperform the market [1] Company Summary - Morgan Stanley is optimistic about Wynn Macau (01128) due to its increasing market share, high yield, and attractive valuation [1]

Core Viewpoint - Morgan Stanley forecasts a 9% year-on-year increase in Macau's gaming industry EBITDA for Q3, with gaming revenue expected to rise by 12.5%. However, it anticipates a decline in overall EBITDA margin both year-on-year and quarter-on-quarter [1] Group 1: Industry Outlook - The gaming revenue in Macau is projected to grow by over 10% year-on-year in Q4 [1] - The industry's EV/EBITDA forecast for this year is 10 times, which is lower than the 15-year average of 12.8 times, potentially aiding Macau gaming stocks to outperform the market [1] Group 2: Company Focus - Morgan Stanley is optimistic about Wynn Macau (01128) due to its increasing market share, high yield, and attractive valuation [1]

Group 1 - UBS report indicates that Macau's average daily gross gaming revenue (GGR) over the past week was 593 million MOP, representing an 8% year-on-year decline and a 46% drop compared to the first five days of the National Day Golden Week, which is weaker than the market expectation of 700 million MOP [1] - The report highlights a significant slowdown in Macau's GGR since the Mid-Autumn Festival on October 6, despite various events taking place over the past weekend, including the NBA China Games [1] - For the month to date, Macau's average daily GGR is 804 million MOP, down 5% year-on-year, suggesting that the remaining 19 days of the month may see an average daily GGR of 707 million MOP based on market forecasts [1] Group 2 - The industry is currently trading at an EV/EBITDA forecast valuation of 8.5 times for next year, which is 0.8 standard deviations below the two-year average [1] - UBS identifies Wynn Macau, MGM China, and Galaxy Entertainment as the preferred stocks within the industry [1]

Core Viewpoint - Morgan Stanley forecasts a 9% year-on-year growth in Macau's gaming industry EBITDA for Q3, with a 12.5% increase in gaming revenue, but anticipates a decline in overall EBITDA margin both year-on-year and quarter-on-quarter [1] Industry Summary - Q3 EBITDA growth is projected at 9% year-on-year [1] - Gaming revenue is expected to rise by 12.5% [1] - Overall EBITDA margin is anticipated to decline compared to both the previous year and the previous quarter [1] - Q4 gaming revenue is expected to grow by over 10% year-on-year [1] - The industry's EV/EBITDA forecast stands at 10 times, below the 15-year average of 12.8 times, which may help Macau gaming stocks outperform the market [1] Company Summary - Morgan Stanley is optimistic about Wynn Macau due to its increasing market share, high yield, and attractive valuation [1]

永利澳门(01128)发布公告，就根据股份计划授予参与人(发行人的董事除外)的股份奖励或期权而发行新 股或转让库存股份-涉及新股而发行32万股。 ...

智通财经APP讯，永利澳门(01128)发布公告，就根据股份计划授予参与人(发行人的董事除外)的股份奖 励或期权而发行新股或转让库存股份 - 涉及新股而发行32万股。 ...