Ge Long Hui·2025-10-15 06:28Industry Overview - Despite the impact of a super typhoon in late September, Macau's total gaming revenue for the third quarter reached MOP 62.57 billion, representing a year-on-year growth of 12.5%, marking the highest quarterly gaming revenue since the post-pandemic reopening [1] - The industry EBITDA for the third quarter is expected to grow by 7% year-on-year to USD 2.07 billion [1] Company Insights - Citigroup's top pick is Galaxy Entertainment, maintaining a target price of HKD 54 and a "Buy" rating [1] - Wynn Macau's rating has been upgraded to "Buy," with a target price of HKD 7.2; although the company has lost market share this year due to the lack of new product launches, improvements are anticipated with the completion of the Chairman's Club expansion in the VIP gaming area at Wynn Palace in the first quarter of next year [1]