HSBC research published a report indicating that data shows Macau's total gambling revenue in November was approximately 18.4 billion patacas, exceeding the bank's previous forecast of 17.5 billion to 18.3 billion patacas. The daily average for November was about 0.615 billion patacas, with the average daily income for the last 13 days improving to 0.641 billion patacas, compared to 0.594 billion patacas in the first 17 days, which is believed to be driven by the Macau Grand Prix and improvements in the high-end middle market. HSBC research noted that although gambling revenue in November fell 11% month-on-month, this decline has narrowed compared to the historical average drop of about 14%. It is expected that the continuation of diverse non-gambling activities in Macau will help offset the impact of seasonal factors, and that revenue in December will continue to improve.

The bank anticipates growth in the number of travelers due to the expansion of the free travel scheme to and from Hong Kong, as well as new measures effective from January next year, allowing Zhuhai residents to visit Macau once a week and Hengqin residents to make multiple trips under a single visa. Additionally, the opening of the Hengqin line of the Macau light rail system and other infrastructure support measures will serve as long-term bullish factors for the gambling industry in Macau.

HSBC research prefers mgm china (02282.HK) and Sands China (01928.HK), both given a 'buy' rating, with target prices set at 17 and 24 yuan respectively. Additionally, a 'buy' rating is also given for Silver Entertainment (00027.HK), with a target price of 51.5 yuan.