Goldman Sachs published a research report indicating that GEG's first-quarter results were in line with expectations. EBITDA remained flat on a quarterly basis, and the increase in new facilities in the third phase did not greatly benefit gross margins because the market recovery was still dominated by high-end midfielders. Furthermore, the Group is facing more intense competition from other operators such as MGM China, and these operators have increased promotional activities and reinvestment rates. GEG's overall EBITDA of 2.84 billion yuan was not significant compared to the third and fourth quarters of last year, respectively. The report quoted GEG management as saying that the Group's gambling market share bottomed out from January to February and then improved on a monthly basis. The Group believes this strong trend will continue until the Labor Day holiday in May, when midmarket gambling revenue reached more than 120% of pre-pandemic levels. The bank believes its market share can rise above 18% in April and mid-May. Goldman Sachs believes that recent stock market adjustments have provided a buying opportunity for GEG. The bank expects the Group's market share to rise to 19.2% in the fourth quarter of this year, and the stock's valuation premium will be drastically reduced, making it the industry's first choice.