On August 9th, Citibank released a report indicating that the second-quarter performance of Wynn Macau was slightly below expectations, bringing several main insights, including the obvious weakness of the retail industry in Macau, although management emphasized that they have not seen any weakness trend in the gambling industry; Wynn Macau's market share rebounded to the expected range in July; Wynn Macau still has confidence in winning market share through its high-quality products and services. In addition, the report pointed out that from the EBITDA profit margin of 31.7% in the second quarter of Wynn Macau, the company maintains discipline in operating expenses and player reinvestments. The management added that the reinvestment rate may rise or fall by 50 to 75 basis points in any quarter, depending on the situation. Citibank maintains a "buy" rating on Wynn Macau with an unchanged target price of HKD 9.75.
- Headlines
- Major bank rating | Citigroup: maintains a "buy" rating for Wynn Macau, with July market share rebounding to expected levels.
大行评级｜花旗：维持永利澳门“买入”评级 7月市占率回升至预期范围
Major bank rating | Citigroup: maintains a "buy" rating for Wynn Macau, with July market share rebounding to expected levels.
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