智通财经网·2026-02-24 08:16Group 1 - Morgan Stanley updates its preference order for Macau gaming stocks, with Galaxy Entertainment (00027) as the top pick rated "Overweight" [1] - MGM China (02282) is also rated "Overweight," followed by Sands China (01928) and Wynn Macau (01128), both rated "Overweight" [1] - Melco Resorts (MLCO.US) receives a "Neutral" rating, while SJM Holdings (00200) and Australia’s Amax Holdings (00880) are rated "Underweight" [1] Group 2 - For the first 22 days of February, Macau's total gaming revenue reached MOP 14.3 billion, averaging MOP 650 million per day [1] - The average daily revenue during the previous week, which included the Lunar New Year holiday, was MOP 785 million, lower than the expected MOP 850 million [1] - The initial days of the holiday showed weak performance with an average daily revenue of MOP 450 million, reflecting a double-digit year-on-year decline [1] Group 3 - The forecast for February's gaming revenue has been adjusted to a year-on-year growth of 0% to 2%, down from the previous estimate of 2% to 5% [2] - Excluding seasonal and calendar factors, the expected growth for total gaming revenue in the first two months of 2026 is revised to 12% to 13%, slightly down from the earlier forecast of 13% to 14% [2] - This revised forecast aligns with both the company's and market's industry expectations [2]