Macquarie released a research report stating that Galaxy Ent (00027) experienced a 50% year-on-year increase in mid-term gambling revenue during the October gold cycle, outperforming competitors such as MGM China (02282), MGM Resorts International, and Wynn Macau (01128). In response to this, the bank slightly raised the target price for Galaxy Ent by about 0.2%, from HK$50.6 to HK$50.7, rating it as "outperform."

The report points out that Galaxy Ent's total gambling revenue has recovered to 71% of the 2019 level, with VIP, mid-term gambling, and slot machine revenues recovering to 17%, 115%, and 104% respectively. In addition, non-gambling revenue increased by 12% compared to the previous quarter, reaching the company's highest historical level. Retail revenue also grew by 6% due to expanded leasing space. Macquarie has respectively increased Galaxy Ent's net income forecasts for 2024, 2025, and 2026 by 0.7%, 0.2%, and 0.6%, reflecting higher expectations for overall gambling revenue.