Glory 10th October | Lyon's report stated that Macau gambling stocks will start announcing third-quarter earnings at the end of October. Due to a 1.5% quarterly decline in Macau gambling revenue and continued pressure on profit margins, the industry Ebitda is forecasted to decrease by 10% to $1.748 billion. The report indicates that due to the lowered profit margin forecast, the industry's Ebitda forecast for 2024 to 2025 will be reduced by 1% to 3%. However, after Mainland China recently announced economic stimulus measures, the bank expects the focus of earnings conference to be on recent operational updates rather than third-quarter performance. Additionally, due to concerns about the contraction of profit margins being offset by an increase in market share, Lyon has raised the target price for Sands China from HK$25.1 to HK$25.8, with a "outperform the market" rating. MGM China and Sands China remain the bank's top picks.