Core Viewpoint - Wynn Macau's stock has increased nearly 5%, currently trading at 6.66 HKD, with a trading volume of 175 million HKD, following the announcement of a board meeting to discuss mid-term results [1] Group 1: Company Performance - Wynn Macau plans to hold a board meeting on August 20 to consider and approve the mid-term results for the six months ending June 30, 2025 [1] - Morgan Stanley has raised its target price for Wynn Macau from 7.1 HKD to 7.8 HKD, citing a reduction in estimated non-gaming capital expenditures for 2026 [1] - The expected annual non-gaming capital expenditure is now projected to be 1.8 billion HKD [1] Group 2: Market Outlook - Morgan Stanley upgraded Wynn Macau's rating to "Overweight" due to anticipated market share growth in the third quarter driven by high-end mass gaming [1] - The recent decline in the company's stock price has made short-term valuations more attractive, with expectations that the stock will outperform the market in the next 60 days [1]

Group 1 - Morgan Stanley believes that there is over an 80% probability that the stock price of Wynn Macau (01128) will rise within the next 60 days [1] - Despite weak performance in the second quarter, the company is expected to see improvement in the third quarter [1] - The company is projected to pay a dividend of HKD 0.185 for the first half of the year, which is higher than market expectations and implies a dividend yield of 6% [1] Group 2 - The company's dividend is noted to be higher than its peers and its valuation is considered low, suggesting potential for recovery [1]

Core Viewpoint - Wynn Macau (01128) shares increased nearly 5%, currently up 4.72% at HKD 6.66, with a trading volume of HKD 175 million [1] Group 1: Company Performance - Wynn Macau announced a board meeting scheduled for August 20 to consider and approve the interim results for the six months ending June 30, 2025 [1] - Morgan Stanley raised the target price for Wynn Macau from HKD 7.1 to HKD 7.8, citing a reduction in estimated non-gaming capital expenditures for 2026 [1] - The expected annual non-gaming capital expenditure is now HKD 1.8 billion [1] Group 2: Market Outlook - The rating for Wynn Macau has been upgraded to "Overweight" due to anticipated market share growth in the third quarter driven by high-end mass gaming operations [1] - The recent decline in the company's stock price has made short-term valuations more attractive, with expectations that the stock will outperform the market in the next 60 days [1]

Group 1 - The core viewpoint of the article highlights that Wynn Macau's stock has increased nearly 5%, currently trading at 6.66 HKD with a transaction volume of 175 million HKD [1] - Wynn Macau announced a board meeting scheduled for August 20 to consider and approve the interim results for the six months ending June 30, 2025 [1] - Morgan Stanley has raised its target price for Wynn Macau from 7.1 HKD to 7.8 HKD, citing a reduction in estimated non-gaming capital expenditures for 2026 to 1.8 billion HKD [1] Group 2 - The rating for Wynn Macau has been upgraded to "Overweight" due to expected market share growth in the high-end mass gaming segment in the third quarter [1] - The recent decline in the company's stock price has made short-term valuations more attractive, with expectations that the stock will outperform the market in the next 60 days [1]

Market Overview - The Hong Kong stock market is experiencing a continued adjustment, with the Hang Seng Index at 24,898 points, down 0.89% [1] - The Hang Seng Tech Index is reported at 5,475 points, down 1.20% [1] Focus Stocks - Oriental Selection shows a strong rebound, rising over 10% after significant fluctuations the previous day [3] - Tech stocks are collectively declining, with Xiaomi down over 2%, and JD.com and Kuaishou down over 1% [3] - New consumption concept stocks are mixed, with Xpeng Motors up over 3% and Pop Mart down over 2% [3] - Gaming stocks are active, with Wynn Macau up nearly 1% [3] - Gold stocks are generally down, with China Silver Group falling over 4% [3] - Chinese brokerage stocks are weakening, with Huatai Securities down over 2% [3] Cross-Border ETFs - Cross-border ETFs are generally down, with only a few exceptions such as the France CAC40 ETF, S&P 500 ETF, Hong Kong Stock Connect Auto ETF, and Dow Jones ETF showing slight increases [3] - Nasdaq Tech ETF, Hong Kong Internet ETF, and Hang Seng Internet ETF are down over 2% [3] - Hong Kong Securities ETF, Nikkei ETF, and Hong Kong Tech ETF are down over 1% [3]

格隆汇8月19日丨永利澳门(01128.HK)公布，有关发行于2034年到期的10亿美元6.750厘优先票据事项。 董事会宣布优先票据发行于2025年8月19日结束。优先票据将于2025年8月20日在香港联合交易所有限公 司上市。 公司估计，提呈发售优先票据的所得款项净额将约为9.890亿美元。公司拟将提呈发售的所得款项净额 用于一般企业用途，包括偿还未偿还债务，例如WM CaymanII循环信贷及╱或一个或多个系列的现有 票据。 ...

永利澳门(01128)发布公告，优先票据(于2034年到期的10亿美元6.750厘优先票据)发行于2025年8月19日 结束。优先票据将于2025年8月20日在香港联合交易所有限公司上市。 本公司估计，提呈发售优先票据的所得款项净额(经扣除初步买家的折扣以及由本公司支付的估计提呈 发售费用后)将约为9.890亿美元。本公司拟将提呈发售的所得款项净额用于一般企业用途，包括偿还未 偿还债务，例如WM Cayman II循环信贷及/或一个或多个系列的现有票据。 ...

永利澳门(01128)发布公告，优先票据(于2034年到期的10亿美元6.750厘优先票据)发行于2025年8月19日 结束。优先票据将于2025年8月20日在香港联合交易所有限公司上市。 本公司估计，提呈发售优先票据的所得款项净额(经扣除初步买家的折扣以及由本公司支付的估计提呈 发售费用后)将约为9.890亿美元。本公司拟将提呈发售的所得款项净额用于一般企业用途，包括偿还未 偿还债务，例如WM Cayman II循环信贷及/或一个或多个系列的现有票据。 ...

Group 1 - Morgan Stanley raised the target price for Wynn Macau from HKD 7.1 to HKD 7.8 and upgraded the rating to "Overweight" [1] - The company reported an adjusted daily EBITDA of USD 3.3 million for June and July, translating to approximately USD 300 million for the quarter [1] - The forecast for the 2025 dividend per share was increased to HKD 0.37, which is 50% higher than market expectations, resulting in a dividend yield of 6%, the highest in the industry [1] Group 2 - The recent decline in the company's stock price has made short-term valuations more attractive, with expectations that the stock will outperform the market in the next 60 days [1] - In the industry upcycle, there is a preference for high-leverage companies, and Wynn Macau's net debt to EBITDA ratio is between 4 to 5 times, indicating greater potential for stock price appreciation compared to peers [1] - Wynn Macau is the first company in the coverage area to issue bonds maturing in 2034, reflecting increased confidence in its business sustainability [1]

Market Overview - The Hong Kong stock market indices collectively rose, with the Hang Seng Index up by 0.19% to 25,224.97 points, the Hang Seng Tech Index up by 0.10%, and the National Enterprises Index up by 0.13% [2][3] Gaming and Gambling Sector - Casino and gambling stocks led the gains, with Wynn Macau rising over 3%. Multiple institutions have released reports optimistic about the gaming industry's outlook, with Morgan Stanley predicting a continuous increase in Macau's gaming revenue from 2025 to 2027 [3][4] Real Estate Sector - The real estate sector showed strength, with China Fortune Land Development rising over 5%. The Chinese government is taking strong measures to stabilize the real estate market, emphasizing urban renewal and the renovation of old housing [5][6] AI Sector - AI concept stocks saw significant increases, with Fenbi rising over 18% and Zhihu over 17%. Analysts believe the AI industry is entering a phase of substantial development, transitioning from speculation to real growth, driven by favorable policies, technology, and capital [6][7] Internet Healthcare Sector - Internet healthcare stocks experienced some gains, with Ping An Good Doctor rising over 3%. The sector is benefiting from multiple favorable developments, including policy support and technological innovation [7][8] New Consumption Sector - The new consumption sector experienced a pullback, with Blukoo falling over 8%. Analysts suggest that the structural benefits of new consumption will continue, but the market has adjusted its earnings expectations for high-growth stocks [8][9]