Group 1 - The core viewpoint of the article highlights a general increase in gaming stocks, with notable gains for companies such as Sands China, Galaxy Entertainment, and MGM China, among others [1] - According to a report from JPMorgan, the total gaming revenue for the first 23 days of the month reached MOP 15.6 billion, averaging MOP 678 million per day [1] - Although the average daily revenue decreased by 4% week-on-week to MOP 642 million due to high base effects, the trend for the month indicates a growth of over 10% compared to November of last year [1] Group 2 - JPMorgan maintains a positive outlook for Macau's gaming revenue, suggesting a potential upward adjustment to their forecast of a 13% year-on-year growth for Q4 [1] - In the short term (approximately 6 months), Sands China is favored due to expectations of a dividend increase and greater market share and profits in Q4 [1] - For the long term (over 12 months), Galaxy Entertainment remains JPMorgan's top pick, citing its strong value, long-term growth potential, and the optionality of its fourth phase project expected to open in 2027 [1]

Core Viewpoint - Morgan Stanley's report indicates that Macau's total gaming revenue for the first 23 days of this month reached MOP 15.6 billion, averaging MOP 678 million per day, showing a year-on-year growth of over 10% compared to November last year, suggesting potential upside to the bank's forecast of a 13% year-on-year growth for Macau gaming in Q4 this year [1][1][1] Group 1 - The average daily revenue for the past week decreased by 4% to MOP 642 million due to high base effects [1] - Morgan Stanley maintains a positive outlook on gaming stocks for next year, despite current stock prices being slightly lower [1] - In the short term (approximately 6 months), the company is optimistic about Sands China, expecting it to increase dividends when announcing earnings at the end of February next year and gain greater market share and profits in Q4 this year [1][1][1] Group 2 - In the long term (over 12 months), Galaxy Entertainment remains Morgan Stanley's top pick, citing its strong value and long-term growth potential, along with the optionality of its Phase 4 project expected to open in 2027, which may reflect in the stock price sometime next year [1][1][1]