Goldman Sachs expects that Galaxy Entertainment (00027) will maintain a market share of about 20% until Q4.
According to the financial news app, Goldman Sachs released a research report stating that Galaxy Entertainment's (00027) gambling revenue market share has rebounded stronger than expected, and it is expected to maintain a market share of about 20% until the fourth quarter. The company's 2024 to 2026 EBITDA forecast increased by 3%, and the target price was raised from HKD 50.9 to HKD 52.4, with a buy rating.
The report said that various measures taken by Galaxy Entertainment to promote gambling sales and market share have begun to show results, and it is believed that the worst time may have passed. Galaxy reiterated that the group's gambling revenue market share has risen from 17.5% in the first quarter of this year to 18% in April, and reached about 20% in May.