Group 1 - The core point of the news is that Macau's gaming revenue has shown significant growth, with July's gross gaming revenue reaching 22.125 billion MOP, a year-on-year increase of 19% [1] - For the first seven months of the year, the total gross gaming revenue in Macau amounted to 140.896 billion MOP, reflecting a year-on-year increase of 6.5% [1] Group 2 - The monthly gross gaming revenue for July 2025 was 22.125 billion MOP, compared to 18.595 billion MOP in July 2024, indicating a growth rate of 19% [2] - Cumulative gross gaming revenue for the first seven months of 2025 reached 140.896 billion MOP, compared to 132.348 billion MOP in the same period of 2024, showing a 6.5% increase [2]

Group 1 - Gaming stocks are rising against the trend, with MGM China up 6.67% to HKD 16.64, Melco International Development up 4.02% to HKD 5.44, Sands China up 1.82% to HKD 19.06, and Galaxy Entertainment up 1.32% to HKD 38.45 [1] - MGM China reported total revenue of HKD 8.667 billion for Q2, a year-on-year increase of 8.89%, and total revenue of HKD 16.661 billion for the first half of the year, up 2.73% year-on-year [1] - The adjusted EBITDA for Q2 reached HKD 2.511 billion, marking a year-on-year growth of 2.79%, setting a new record [1] Group 2 - Citigroup raised the target price for MGM from HKD 17.1 to HKD 18 while maintaining a "Buy" rating [1] - Citigroup maintains a forecast for July 2025 GGR at MOP 21 billion, which is approximately 86% of the July 2019 level, with a year-on-year growth of 13% [1] - Macquarie recently increased its forecast for total gaming revenue in Macau for 2025 by 5% to MOP 235.7 billion, representing a year-on-year growth of 4% [1]