Ge Long Hui·2026-01-05 04:36Core Viewpoint - The report from CICC indicates that Macau's total gaming revenue reached 20.9 billion MOP in December last year, reflecting a year-on-year growth of 14.8%, slightly below Bloomberg's consensus expectation of 18% growth, and recovering to 91.5% of the level seen in December 2019 [1] Group 1: Revenue Performance - The performance of total gaming revenue in December was primarily driven by the continued rollout of new high-end property projects [1] - Various entertainment activities and promotional plans contributed to an increase in visitor numbers [1] - However, the low VIP win rate posed a certain drag on overall revenue [1] Group 2: Future Projections - CICC forecasts that total gaming revenue in January 2026 will reach between 20.2 billion to 21.7 billion MOP, with average daily gaming revenue expected to be between 650 million to 700 million MOP [1] - Year-on-year growth is projected to be between 10% to 19%, but this is expected to be a decline of 13% to 19% compared to January 2019 [1] Group 3: Stock Preferences - CICC's preference ranking for sector stocks remains unchanged, listed in order as MGM China, Sands China, Galaxy Entertainment, Melco International Development, Wynn Macau, Melco Resorts & Entertainment, and SJM Holdings [1]