Zhi Tong Cai Jing·2025-10-14 03:22Group 1 - The gaming stocks continue to decline, with New World Development down 5.19% to HKD 4.75, Sands China down 4.2% to HKD 18.23, Galaxy Entertainment down 3.56% to HKD 36.3, and MGM China down 3.39% to HKD 13.97 [1] - According to a report from Credit Lyonnais, the Macau gaming industry is expected to see a year-on-year EBITDA growth of 10% to USD 2.063 billion in Q3, driven by a 12.5% year-on-year increase in gross gaming revenue (GGR) [1] - The report indicates that adjusted profit margins will be under pressure, with a projected quarterly decline of 0.5 percentage points due to a 33-hour casino shutdown caused by Typhoon Haikui [1] Group 2 - The focus for the market will be on the resilience of gaming revenue post-Golden Week and the reinvestment activities of gaming companies [1] - The firm has revised its EBITDA forecasts for the industry downwards by 1.4% and 0.5% for this year and next year, respectively, expecting a year-on-year EBITDA increase of 7% to USD 8.2 billion this year and an 8% increase to USD 8.8 billion next year [1] - Additionally, the forecasts for gaming revenue have been adjusted upwards by 0.1% and 1.3% for this year and next year, respectively [1]