Jin Rong Jie·2026-03-09 05:03Group 1 - The gaming stocks have declined across the board, with notable drops including Melco International Development down 6.02% to HKD 3.75, Sands China down 5.48% to HKD 16.73, MGM China down 4.84% to HKD 11.8, and Galaxy Entertainment down 4.42% to HKD 36.36 [1] - Morgan Stanley reported that after incorporating February data, the total gaming revenue (GGR) for the first two months of the year increased by 14% year-on-year, recovering to 86% of pre-pandemic levels, consistent with strong growth momentum from the second half of last year [1] - UBS maintains a positive outlook on the Macau gaming industry, citing solid demand year-to-date, which strengthens confidence in sustainable growth for gaming revenue this year, forecasting a 5% year-on-year increase in GGR, with growth concentrated in the first half at approximately 8%, while the second half is expected to slow to about 3% [1]