Melco Resorts & Entertainment(US:MLCO) Ge Long Hui·2025-06-26 01:17Group 1 - The core viewpoint of the article highlights that Macau's gaming revenue (GGR) for September 2017 reached 21.36 billion MOP, representing a 16.1% year-on-year increase, surpassing market expectations of 15% [1] - The strong performance in September is attributed to the VIP segment, as high-end clients prefer to visit during off-peak seasons, contributing to the growth of both VIP and high-end mass gaming [1][12] - The upcoming "Golden Week" holiday is expected to further boost October's GGR, with hotel bookings indicating strong demand, particularly for 3 to 5-star hotels [3] Group 2 - The article discusses several short-term catalysts for GGR growth, including the Christmas, New Year, and Spring Festival holidays, as well as the anticipated opening of the Hong Kong-Zhuhai-Macao Bridge by the end of the year [4] - The article emphasizes that despite high base effects, the Macau gaming sector is expected to continue its recovery, driven by VIP gaming and the opening of new facilities [4] - The performance of major gaming companies such as Melco International Development and Melco Resorts & Entertainment is highlighted, with both companies reporting significant revenue growth in Q2 2017 [5][6] Group 3 - Sands China reported a slight miss in Q2 earnings, with net revenue of $1.79 billion, but showed strong growth in mass market gaming, indicating a successful transition towards non-gaming revenue streams [9][10] - MGM China experienced a decline in revenue but is expected to benefit from new projects, with a target price increase reflecting potential future growth [11][12] - Galaxy Entertainment's Q2 revenue met expectations, with a strong performance in both VIP and mass market segments, leading to an upward revision of its target price [13][14] Group 4 - Wynn Macau reported strong revenue growth, particularly in VIP gaming, but faced challenges with its new property, Wynn Palace, which underperformed due to external construction impacts [15][16] - SJM Holdings showed a mixed performance, with revenue growth in VIP gaming but overall underperformance compared to market expectations, leading to a cautious outlook [17][18] - The article concludes with a neutral outlook on the gaming sector, emphasizing the competitive landscape and the need for companies to adapt to changing market dynamics [19]