UBS expects Macau's average daily gaming revenue in March to increase by 9% year-on-year, with Sands China as the industry's top pick

UBS research report indicates that the average daily gaming revenue (GGR) in Macau over the past seven days was approximately MOP 721 million, higher than the approximately MOP 700 million in the previous seven days, bringing the average daily GGR for this month to about MOP 709 million, an increase of about 12% year-on-year, but a decrease of about 4% month-on-month. By business segment, the average daily gaming revenue from the mass market has remained flat to down 2% month-on-month, while the gaming volume in VIP rooms has decreased by 10% to 12% month-on-month, with VIP win rates ranging from 3% to 3.2%.

The bank forecasts that the average daily gaming revenue in Macau for March will be approximately MOP 690 million, representing a year-on-year growth of 9%, implying that the average daily gaming revenue for the remaining 9 days of this month will be about MOP 643 million. The bank maintains a positive outlook on the industry, favoring Melco Resorts & Entertainment (MLCO.US) and Sands China (01928.HK) as top picks in the industry, with target prices of USD 9.4 and HKD 20.4, both rated as "Buy."