Core Viewpoint - Morgan Stanley's report indicates that Macau's total gaming revenue for the first 23 days of this month reached MOP 15.6 billion, averaging MOP 678 million per day, showing a year-on-year growth of over 10% compared to November last year, suggesting potential upside to the bank's forecast of a 13% year-on-year growth for Macau gaming in Q4 this year [1][1][1] Group 1 - The average daily revenue for the past week decreased by 4% to MOP 642 million due to high base effects [1] - Morgan Stanley maintains a positive outlook on gaming stocks for next year, despite current stock prices being slightly lower [1] - In the short term (approximately 6 months), the company is optimistic about Sands China, expecting it to increase dividends when announcing earnings at the end of February next year and gain greater market share and profits in Q4 this year [1][1][1] Group 2 - In the long term (over 12 months), Galaxy Entertainment remains Morgan Stanley's top pick, citing its strong value and long-term growth potential, along with the optionality of its Phase 4 project expected to open in 2027, which may reflect in the stock price sometime next year [1][1][1]