SG-GEG @EC2611A

JPMorgan: Macau May Gambling Revenue Meets Expectations, Maintains Neutral Rating on Casino Stocks

Morgan Stanley lowers Galaxy Entertainment target price to HK$37, maintains 'Follow the Market' rating

Huatai Pacific International Downgrades Galaxy Entertainment Target Price to HKD 41.5

CICC Maintains Overweight Industry Rating and Target Price for Galaxy Entertainment

Goldman Sachs Maintains Buy Rating for Galaxy Entertainment

UBS Report: Galaxy Entertainment Reiterates Balanced Capital Allocation Strategy, Focuses on Premium Business

Galaxy Entertainment Group Introduces Board and Committee Structure

Galaxy Entertainment Chairman Louis Liu Reveals Strong Performance During May Golden Week

Galaxy Entertainment Group Releases Unaudited Q1 2026 Financial Data

Galaxy Entertainment Reports Q1 Revenue of HKD12.4 Billion

UBS Report: Macau's Gambling Industry Revenue and Operator Market Share Changes in April

CLSA Predicts 6.6% Increase in Macau's May Gambling Revenue and Rates Several Stock Performances

Galaxy Entertainment Shows Strong Recovery Post-Pandemic and Pushes for Cotai Phase IV Development

Galaxy Macau Announces Hosting of UFC Fight Night

Morgan Stanley Downgrades Macau Gaming Stocks Ratings and Target Prices

JPMorgan Maintains Overweight Rating on Galaxy Entertainment

CLSA: Macau's February Gambling Revenue Up 4.5%, Predicts 9.7% Growth in March

HSBC Maintains Buy Rating on Galaxy Entertainment with Raised Target Price

Goldman Sachs Cuts Galaxy Entertainment Target Price But Maintains 'Buy' Rating

UBS report: Galaxy Entertainment Q4 2025 beats expectations

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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.

AASTOCKS News

SANDS CHINA LTD

GALAXY ENT

WYNN MACAU

SJM HOLDINGS

MGM CHINA

Melco Resorts & ENT

Las Vegas Sands

Wynn Resorts

Sands China

MGM Resorts

Galaxy Entertainment Group

VanEck Gaming ETF

Roundhill Sports Betting & iGaming ETF

Citi Cuts May Macau GGR Forecast to MOP22B

JPMorgan forecasts Macau's May GGR to grow 2-4% YoY, with current GGR at MOP17.9 billion. Despite better-than-expected 1Q results, gaming stocks face a pullback. The bank advises a 'Neutral/Selective' stance, highlighting GALAXY ENT as a top pick for medium-term opportunities. Other stocks like SANDS CHINA and WYNN MACAU are also recommended, but caution is advised as the sector may not have bottomed out yet.

JPMorgan Chase

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JPM Continues to Expect Macau May GGR to Grow 2-4% YoY; GALAXY ENT  Top Pick in Sector

Morgan Stanley has lowered its target price for GALAXY ENTfrom HKD39 to HKD37, maintaining an Equalweight rating. This adjustment reflects a 4% reduction in the 2026 forecast for free cash flow to equity, influenced by lower revenue assumptions and increased promotional expenses. The broker forecasts property EBITDA for GALAXY ENT at HKD15.2 billion, HKD16.9 billion, and HKD18.2 billion for 2026, 2027, and 2028, respectively.

Morgan Stanley

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M Stanley Cuts GALAXY ENT  TP to HKD37, Maintains Equalweight

Citi maintains its forecast for Macau's May gross gaming revenue (GGR) at MOP22.5 billion, reflecting a 6% year-on-year increase. The first 17 days of May saw an estimated GGR of MOP12.65 billion, with a daily average of MOP693 million, down 11% from the previous period. Upcoming large-scale events at SANDS CHINA and GALAXY ENT are expected to boost gaming demand.

Citigroup

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Citi Maintains Macau May GGR Forecast at MOP22.5B

CICC reported that GALAXY ENT's 1Q results met expectations, with revenue of HKD12.396 billion, up 11% YoY. Adjusted EBITDA was HKD3.576 billion, aligning with market forecasts. CICC maintained its EBITDA forecasts for 2026 and 2027, reiterating an Outperform rating with a target price of HKD44.1, reflecting an 11x 2026 EV multiple.

Invesco Leisure & ENT ETF

CICC

CICC: GALAXY ENT  1Q Results In Line; Reiterates Outperform with TP HKD44.1

CICC has reaffirmed its Buy rating for Galaxy Entertainment Group (GXYEF) with a price target of HK$44.10, while the shares closed at HK$33.28. Additionally, DBS analyst Mavis Hui also issued a Buy rating for the company. In contrast, Morgan Stanley maintained a Hold rating on May 12.

Tip Ranks

CICC Sticks to Its Buy Rating for Galaxy Entertainment Group (GXYEF)

Haitong International has reduced the target price for GALAXY ENTfrom HKD47.3 to HKD41.5 while maintaining an Outperform rating. The company's 1Q26 results met expectations, with net revenue of HKD12.4 billion, up 10.7% YoY, and adjusted EBITDA of HKD3.58 billion, up 8.5% YoY. GALAXY ENT's GGR increased by 16.4% YoY to HKD12.73 billion, with a market share of 19.9%. Future revenue forecasts for 2026-2028 show continued growth, with adjusted EBITDA margins projected to remain stable.

Haitong International Cuts GALAXY ENT  TP to HKD41.5; 1Q26 Results In Line, Rated Outperform

AASTOCKS Financial News reports on the latest investment ratings and target prices for GALAXY ENTfrom six brokers. Key ratings include: G Sachs (Buy, TP HKD53.2), HSBC Research (Buy, TP HKD48.5), CLSA (Outperform, TP HKD47.4), UBS (Buy, TP HKD46), M Stanley (Equalweight, TP HKD39), and Citi (Buy, TP HKD52). Overall, brokers noted that 1Q results met expectations, with positive outlooks on market share and EBITDA growth.

Goldman Sachs

HSBC HOLDINGS

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Summary of Latest Ratings, TPs, Views on GALAXY ENT from Major Brokers

GALAXY ENTshares rose 2.9% to HKD33.3 after G Sachs reiterated a Buy rating, citing a solid dividend outlook despite a 17% QoQ decline in adjusted EBITDA to HKD3.6 billion. The firm expects an interim dividend of at least HKD0.8 per share, yielding about 5%. GALAXY's 1Q GGR market share reached 20.2%, with management confident in maintaining dividends and managing capital expenditures. G Sachs slightly lowered its 12-month target price from HKD53.4 to HKD53.2, noting the stock's valuation is at trough levels with potential for recovery post-June.

GALAXY ENT  Gains 3% as G Sachs Reiterates Buy on Solid Dividend Outlook, Lowers 12-Month TP to HKD53.2

Galaxy Entertainment Group has detailed its board and committee structure, highlighting the roles of executive, non-executive, and independent directors, led by chairman Francis Lui Yiu Tung. The company emphasizes corporate governance through its Audit, Corporate Governance, Executive Board, Nomination, and Remuneration Committees, with independent directors chairing key committees. The latest analyst rating for Galaxy Entertainment (HK:0027) is a Buy, with a price target of HK$51.48. The company operates in the gaming and entertainment sector, managing integrated resort and casino properties in Asia, with a market cap of HK$143.5B.

Galaxy Entertainment Details Board and Committee Structure

SG-GEG @EC2611A(28756.HK)

Citi Cuts May Macau GGR Forecast to MOP22B

JPM Continues to Expect Macau May GGR to Grow 2-4% YoY; GALAXY ENT Top Pick in Sector

M Stanley Cuts GALAXY ENT TP to HKD37, Maintains Equalweight

Citi Maintains Macau May GGR Forecast at MOP22.5B

CICC: GALAXY ENT 1Q Results In Line; Reiterates Outperform with TP HKD44.1

CICC Sticks to Its Buy Rating for Galaxy Entertainment Group (GXYEF)

Haitong International Cuts GALAXY ENT TP to HKD41.5; 1Q26 Results In Line, Rated Outperform

Summary of Latest Ratings, TPs, Views on GALAXY ENT from Major Brokers

GALAXY ENT Gains 3% as G Sachs Reiterates Buy on Solid Dividend Outlook, Lowers 12-Month TP to HKD53.2

Galaxy Entertainment Details Board and Committee Structure