Casinos and Gaming

SANDS CHINA LTD

Morgan Stanley: Macau May Casino Revenue Beats Expectations, Favors Wynn and Sands Dividends

First Shanghai Securities and DBS Maintain 'Buy' Rating for Sands China

Macquarie Downgrades Sands China's Investment Rating and Target Price

Sands China's April Short Interest Fell Sharply

CICC and DBS Maintain Buy Rating for Sands China with High Target Prices

Guotai Junan Reiterates Buy Rating on Sands China

Sands China Launches New Side Bets in Macau

Sands China's stock price falls, casino stocks under pressure

Sands China Reports Q1 Earnings and Outlines Group Growth Strategy

Sands China Reports Yearly Growth, Reaffirms Macau Investment Commitment

Sands China's Short Positions Plummet in March

UBS Maintains Positive Outlook on Macau Gaming Sector and Adjusts Ratings and Targets

Sands China Announces Annual Results and New Chairman

Sands China Announces Last Year's Performance, Net Income Up Over 50%

Sands China Ltd released FY2025 9 Months earnings on February 13, 2026 (BJT), actual revenue HKD 42.66 B, actual EPS HKD 0.6307

SANDS CHINA LTD released FY2025 Q3 earnings on February 13, 2026 (BJT), actual revenue HKD 15.37 B (forecast HKD 14.86 B), actual EPS HKD 0.2322 (forecast HKD 0.2331)

Shanghai Sands Reports 14.3% Decrease in Net Revenue for 2025 Fiscal Year

SANDS CHINA LTD released FY2025 Q4 earnings on February 13 After-Market (BJT), actual revenue HKD 15.37 B (forecast HKD 15.84 B), actual EPS HKD 0.2321 (forecast HKD 0.3108)

SANDS CHINA LTD released FY2025 earnings on February 13 After-Market (BJT), actual revenue HKD 58.04 B (forecast HKD 57.96 B), actual EPS HKD 0.8632 (forecast HKD 0.9938)

Multiple Countries to Release Macro Data and Officials to Give Speeches

SYNERTONE

SOFTMEDX

HIPINE

TAILAM TECHCON

BIOSTAR PHARM-B

WING FUNG GROUP

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MEDINET GROUP

G-VISION INT'L

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JPM reports Macau May GGR rose 7% YoY to MOP22.6 billion, beating expectations, but warns of a short-term growth lull due to high comparison bases and the FIFA World Cup diverting premium players. The bank forecasts flat GGR for June-July and low single-digit growth later in the year. Maintaining a 'Neutral/Selective' stance, JPM names Galaxy Entertainment its top pick, favoring it over Wynn Macau and Sands China based on valuation and dividend yields.

AASTOCKS News

Galaxy Entertainment Group

GALAXY ENT

WYNN MACAU

Sands China

JPMorgan Chase

MGM CHINA

Melco Resorts & ENT

MELCO INT'L DEV

SJM HOLDINGS

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM: Macau May GGR Beats; Short-term Still in Growth Lull, GALAXY ENT  Top Pick

Morgan Stanley expects Macau's June GGR to fall 1% YoY to MOP20.8B due to World Cup disruptions and a high base, with Q2 EBITDA forecast flat. Despite this, the bank remains bullish on Wynn Macau and Sands China, citing attractive dividend yields compared to other HSI constituents.

Morgan Stanley

Hang Seng Index

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

M Stanley Expects Macau Jun GGR to Fall 1% YoY to MOP20.8B; Bullish on WYNN MACAU  and SANDS CHINA LTD

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CICC expects Macau's June GGR to range between MOP19.5B and MOP21B, reflecting a YoY decline of 0-7% due to World Cup seasonal effects. May GGR reached MOP22.6B, up 6.7% YoY, driven by holidays and events. CICC remains most bullish on Sands China, followed by Galaxy Entertainment, Melco International Development, Wynn Macau, Melco Resorts, and SJM Holdings.

CICC

CICC Expects Macau Jun GGR at MOP19.5B-21B

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Macau's gross revenue from games of fortune for May reached MOP22.611 billion, up 6.7% YoY, above the market expectation of a 5% growth, the Gaming Inspection and Coordination Bureau announced.The aggregate GGR for 5M26 grew 10.9% YoY to MOP108.379 billion.

MACAU LEGEND

MGM Resorts

Las Vegas Sands

Wynn Resorts

MO May GGR Up 6.7% YoY to MOP22.611B Beats

Hubert Wang, former President and COO of MGM China, has been appointed as the new Chief Operating Officer of Sands China Ltd. He will join the Executive Committee on June 1, 2026, overseeing gaming, resort operations, market development, and strategic analysis.

Hubert Wang Joins SANDS CHINA LTD as COO

CICC reports Macau's Q1 2026 GGR rose 14.2% YoY, with industry EBITDA recovering to 87% of 2019 levels. The broker believes the highly competitive reinvestment environment has peaked and margins are expected to recover in coming quarters. CICC maintains its preference ranking for Macau gaming stocks, listing Sands China Ltd as the top pick, followed by Galaxy Entertainment, MGM China, Melco International Development, Wynn Macau, Melco Resorts, and SJM Holdings.

CICC: MO Gaming Reinvestment Environment Highly Competitive and Has Peaked; Margins May Recover in Coming Quarters; Top Pick SANDS CHINA LTD

Citi has revised its May GGR forecast for Macau from MOP22.5 billion to MOP22 billion, reflecting a 4% year-on-year increase. The adjustment follows industry checks indicating a GGR of approximately MOP17.9 billion for the first 25 days of May, with a daily average of MOP656 million, down 5% from the previous week. A UFC Fight Night event at the end of May is anticipated to boost gaming demand.

- Citi's research report indicates that Macau's total gaming revenue (GGR) for the first 25 days of May may reach approximately 17.9 billion MOP, with an average daily GGR of about 656 million MOP, a 5% decrease from the previous week.  
- Looking ahead, the upcoming UFC Fight Night at the Galaxy Arena is expected to boost gaming demand.  
- Consequently, Citi has adjusted its May GGR forecast down from 22.5 billion MOP to 22 billion MOP, reflecting a 4% year-over-year growth.

VanEck Gaming ETF

Roundhill Sports Betting & iGaming ETF

Citi Cuts May Macau GGR Forecast to MOP22B

Las Vegas Sands and Sands China will support the organization in advancing technology to convert food waste into useful products during its three-year membership in the exclusive program.

MorningStar

Macao Sustainability Leader Sustaincia Joins the Sands Cares Accelerator

Asian Community Development Council Joins the Sands Cares Accelerator | LVS Stock News

StockTitan

Asian Community Development Council Joins the Sands Cares Accelerator | LVS Stock News

Macao Sustainability Leader Sustaincia Joins the Sands Cares Accelerator | LVS Stock News

Macao Sustainability Leader Sustaincia Joins the Sands Cares Accelerator | LVS Stock News

SANDS CHINA LTD(01928.HK)

JPM: Macau May GGR Beats; Short-term Still in Growth Lull, GALAXY ENT Top Pick

M Stanley Expects Macau Jun GGR to Fall 1% YoY to MOP20.8B; Bullish on WYNN MACAU and SANDS CHINA LTD

CICC Expects Macau Jun GGR at MOP19.5B-21B

MO May GGR Up 6.7% YoY to MOP22.611B Beats

Hubert Wang Joins SANDS CHINA LTD as COO

CICC: MO Gaming Reinvestment Environment Highly Competitive and Has Peaked; Margins May Recover in Coming Quarters; Top Pick SANDS CHINA LTD

Citi Cuts May Macau GGR Forecast to MOP22B

Macao Sustainability Leader Sustaincia Joins the Sands Cares Accelerator

Asian Community Development Council Joins the Sands Cares Accelerator | LVS Stock News

Macao Sustainability Leader Sustaincia Joins the Sands Cares Accelerator | LVS Stock News