Ge Long Hui·2025-10-20 03:38Group 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]