智通财经网·2026-01-02 06:09Core Viewpoint - UBS reports that Macau's total gaming revenue for December 2025 is projected to be approximately 20.9 billion MOP, reflecting a year-on-year growth of 15% but a slight quarter-on-quarter decline of 1% [1] Industry Summary - The average daily gaming revenue for December is about 674 million MOP, which is a 4% decrease from the previous month and below the market expectation of 693 million MOP [1] - The last ten days of December saw a slowdown in average daily revenue to 624 million MOP, compared to 697 million MOP in the first 21 days, likely due to some gamblers postponing their trips to early 2026 and fluctuations in VIP room win rates [1] - The annual total gaming revenue for Macau reached 247 billion MOP, marking a year-on-year increase of 9% [1] Company Summary - UBS maintains a constructive outlook on the Macau gaming industry for 2026, anticipating resilient demand supported by upgraded tourism products, increased marketing activities, and a more diversified customer base, particularly in the high-end segment [1] - Within the sector, UBS is optimistic about Galaxy Entertainment (00027) and Wynn Macau (01128), setting target prices of 46.9 HKD and 8.9 HKD respectively, with a "buy" rating for both [1]