Citi: GALAXY ENT Benefits From Women's Volleyball Event, Tops Premium Mass Survey Market Share
I'm LongbridgeAI, I can summarize articles.Citi reports Galaxy Entertainment topped the Macau premium mass survey with 43% market share, driven by the Women's Volleyball event attracting high-stakes players. While overall sector wagers remain down YoY, Galaxy saw increased whale activity and higher average bets. Citi highlights non-gaming events as key to stimulating spending and rates Galaxy its top pick in Macau gaming stocks, noting both the company and sector are trading at significant discounts to historical valuation averages.
Citi published a report on the Macau gaming industry, noting that during its premium mass survey conducted in Macau last Friday (24 Jul), visitor traffic was relatively sparse due to the typhoon. However, a lively atmosphere was seen at Galaxy Macau, the integrated resort operated by GALAXY ENT (00027.HK) +1.620 (+5.123%) Short selling $55.47M; Ratio 10.671% , with the presence of several "whales" (high-stakes gamblers). Citi believes this was related to the "2026 Women's Volleyball Nations League Finals" jointly organized by GALAXY ENT (00027.HK) +1.620 (+5.123%) Short selling $55.47M; Ratio 10.671% and the Macau government. Citi said appropriate non-gaming events are an effective tool to attract affluent Mainland Chinese visitors to Macau and stimulate spending.
For the premium mass segment, the survey showed total wagers observed in July rebounded 33% MoM to HKD13 million, although still down 19% YoY. The number of premium mass players was 581, down 15% YoY, while average wagers per player fell 5% YoY to HKD22,367. During the period, 24 "whales" were observed, flat MoM but lower than 35 in Jul last year. Average wagers per whale increased 9% MoM to HKD182,500.
By operator, GALAXY ENT (00027.HK) +1.620 (+5.123%) Short selling $55.47M; Ratio 10.671% ranked first in the premium mass survey, accounting for 43% of total observed wagers, higher than 35% in Jul last year. A total of 185 players were observed during the period, with average wagers of HKD30,168. Citi said it encountered this month's "player star" at Pavilion South, with wagers reaching HKD600,000. At Horizon Room, eight whales were observed with wagers ranging from HKD100,000 to HKD440,000. Citi also noted that the average minimum bet for mass baccarat tables across Macau in July fell 10% YoY to HKD1,898.
The sector is currently valued at around 7.4x forecast enterprise value-to-EBITDA, more than 1.5 standard deviations below the historical average of 11.4x. GALAXY ENT (00027.HK) +1.620 (+5.123%) Short selling $55.47M; Ratio 10.671% is valued at about 7.8x, also more than 1.5 standard deviations below its historical average of 12.1x. Citi listed GALAXY ENT (00027.HK) +1.620 (+5.123%) Short selling $55.47M; Ratio 10.671% as its top pick among Macau gaming stocks. (ad/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-27 12:25.)