According to a research report released by Morgan Stanley, Macau gaming stocks rose in November due to the resolution of the gambling card problem, and the industry has outperformed the Hang Seng Index by 32% year-to-date. However, the industry's market capitalization is still 42 per cent below its pre-epidemic level at the end of 2019.

Preference in Macau gaming stocks$SANDS CHINA LTD (01928.HK)$More than$GALAXY ENT (00027.HK)$At the same time, preference$Melco Resorts and Entertainment (MLCO.US)$及$WYNN MACAU (01128.HK)$More than$SJM HOLDINGS (00880.HK)$及$MGM CHINA (02282.HK)$。

The bank believes that epidemic mitigation and travel will be key themes for Macau's gaming industry next year, which could normalize industry revenues in 2024. In addition, due to the continuous rise in retail sales of luxury goods in the mainland, the strong backlog of demand, the increase in the proportion of midfield from 60% before the epidemic to 90%, and the permanent savings in staff costs of about 20%, it is expected that the profits of the industry will be stronger after the epidemic than before the epidemic.

According to the research report released by Morgan Stanley, the rating and target price of Hao gambling stocks are as follows:

Shares | Investment rating | Target price

$GALAXY ENT (00027.HK)$| | synchronize with the market | HK $47-> HK $52.50 |

$SANDS CHINA LTD (01928.HK)$| | increase holdings | HK $19-> HK $27.5 |

$WYNN MACAU (01128.HK)$| | increase holdings | HK $5-> HK $8 |

$SJM HOLDINGS (00880.HK)$| | synchronize with the market | HK $3-> HK $4.5 |

$MGM CHINA (02282.HK)$| | reduction | HK $4-> HK $6 |

$Melco Resorts and Entertainment (MLCO.US)$| | increase holdings | US $8-> US $13.5 |