Zhi Tong Cai Jing·2025-11-03 06:41Core Insights - UBS reports that Macau's total gaming revenue for October reached approximately 24.1 billion MOP, representing a year-on-year increase of 16% and a month-on-month increase of 32%, exceeding market expectations [1] - The average daily gaming revenue for October was about 777 million MOP, driven by strong performance following the Golden Week [1] - From October 6 to 31, the average daily gaming revenue was approximately 715 million MOP, which, despite a 35% decline from the peak during the Golden Week, was still higher than September's 610 million MOP and better than the historical average decline of 40% [1] Market Expectations - The market anticipates that November's total gaming revenue will normalize, with an expected average daily revenue of around 673 million MOP, reflecting a year-on-year growth of 10% but a month-on-month decline of 13%, aligning with the seasonal patterns observed from 2015 to 2019 [1] Stock Recommendations - UBS's preferred stocks in the sector include Wynn Macau (01128), MGM China (02282), and Galaxy Entertainment (00027), all rated as "Buy" with target prices set at 8.4 HKD, 19.8 HKD, and 46.9 HKD respectively [1]