According to the report released by Morgan Stanley, based on third-party data, the average daily gambling revenue in Macau last week was 1.08 billion Macau patacas, the strongest performance of the year. It is expected that under the promotion of the National Day gold week and the mainland stock market, the gambling revenue forecast for October is as high as 21.5 billion to 22.8 billion Macau patacas, a year-on-year increase of 10% to 17%, a month-on-month increase of 25% to 32%, reaching 81% to 86% of the 2019 level.

The bank stated that among the Macau casino stocks, the bank's top pick is Galaxy Entertainment (00027), believing that it has a strong property channel and abundant hotel room supply. The bank has lowered its profit forecast for Galaxy Entertainment, expecting third-quarter adjusted EBITDA to be 2.84 billion yuan, a quarterly decrease of 11%, a year-on-year increase of 3%, mainly due to lower-than-expected gambling revenue from Galaxy Macau, as a result of Andy Lau's concert at the Galaxy Arena from October 3 to 6. Visitors have postponed their visit from September to October due to his concert; weak quarterly performance in building material sales, etc. However, the bank expects that with the increase in shopping activities, third-quarter mall revenue will show quarterly improvement.