M Stanley Favors GALAXY ENTERTAINMENT and SANDS CHINA LTD; December GGR Falls Short of Expectations
Macau's GGR Performance: In December 2025, Macau's Gross Gaming Revenue (GGR) reached MOP20.9 billion (approximately USD2.61 billion), marking a 14.8% year-over-year increase but a 1% quarter-over-quarter decline, falling short of market expectations.
4Q25 GGR Growth: For the fourth quarter of 2025, Macau's GGR grew by 15% year-over-year and 5.6% quarter-over-quarter, totaling MOP66.1 billion (around USD8.26 billion), with EBITDA expected to rise by over 10% year-over-year.
Stock Recommendations: Morgan Stanley favored GALAXY ENT and SANDS CHINA LTD for stock selection, while downgrading MGM CHINA to Equalweight and maintaining SJM HOLDINGS as Underweight, despite potential short-term recovery for MGM CHINA.
Market Insights: UBS noted that December's GGR slightly missed expectations, but demand in Macau is anticipated to remain resilient throughout 2026.
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MO Travel Sector Anticipates 160-170K Daily Inbound Tourists for CNY Holiday; GALAXY ENT Reports Hotels Nearly Fully Booked
Visitor Expectations: Hu Jingguang, President of the Travel Industry Council of Macau, anticipates that Macau will welcome approximately 160,000-170,000 visitors daily during the nine-day Chinese New Year holiday.
Hotel Booking Rates: Current hotel booking rates in Macau have surpassed 90%, indicating strong demand for accommodations during the holiday period.
Resort Demand: GALAXY ENT reported robust overall demand for its resorts, with hotel room bookings nearly at full capacity and high interest in dining reservations.
Stock Market Note: The article includes a brief mention of short selling data for GALAXY ENT, indicating a significant short selling amount and ratio.
HSI Declines by 65 Points at Opening; CATL and CMOC Start Strong Among Blue Chips; Alibaba and Baidu Struggle
US Inflation and Stock Market Update: US inflation was below expectations while core inflation met them; the DJIA rose by 0.1% last Friday.
Hong Kong Stock Market Performance: The Hong Kong bourse opened lower, with the HSI down 0.2% and other indices also showing declines.
HSI Quarterly Review Changes: CATL, CMOC, and LAOPU GOLD were added to the HSI, while ZHONGSHENG HLDG was removed; CATL and CMOC saw slight increases in their stock prices.
Notable Stock Movements: Stocks like BABA-W and BIDU-SW dropped significantly after being listed as Chinese military companies, while ANTA SPORTS received approval for a stake acquisition in PUMA.
Forbes Reveals 2026 List of Hong Kong's 50 Wealthiest Individuals; Li Ka-shing Maintains First Place with HKD351.7 Billion
Li Ka-shing's Wealth: Li Ka-shing remains Hong Kong's richest person with an estimated wealth of HKD351.78 billion, according to Forbes' 2026 list of the 50 richest individuals in Hong Kong.
Top Rankings: The second position is held by Lee Ka Kit and his family with a net worth of HKD272.22 billion, followed by the Cheng Kar-Shun family in third place with HKD203.58 billion.
Notable Figures: Kwong Siu Hing of SHK PPT ranks fifth with HKD136.5 billion, while other notable figures in the top ten include Peter Woo, Joseph Lau, Joe Tsai, the Lui Yiu Tung family, and Jean Salata.
Market Context: The article also mentions short selling data and stock performance related to these wealthy individuals and their companies, indicating market activity as of February 11, 2026.
Forbes HK Reveals 2026's 50 Wealthiest Individuals; Li Ka-shing Maintains Leading Position with HKD351.7 Billion
Li Ka-shing's Wealth: Li Ka-shing remains Hong Kong's richest person in 2026 with an estimated wealth of HKD351.78 billion, continuing his streak at the top of the Forbes list.
Top Rankings: The second position is held by Lee Ka Kit and family with HKD272.22 billion, followed by the Cheng Kar-Shun family at third with HKD203.58 billion.
Notable Figures: Kwong Siu Hing of SHK PPT moved up to fifth place with HKD136.5 billion, while Peter Woo and Joseph Lau occupy the sixth and seventh spots, respectively.
Additional Rankings: The eighth to tenth positions are held by Joseph Tsai, Lui Yiu Tung family, and Jean Salata, with net worths ranging from approximately HKD74.1 billion to HKD116.2 billion.
GALAXY ENT Launches Capella Hotel Featuring 95 Suites and Villas
New Hotel Opening: Galaxy Entertainment has opened its latest luxury hotel, Capella, designed for high-end guests, featuring 95 suites and villas with exclusive services like 24-hour private butler assistance.
Villas and Amenities: The hotel offers two-bedroom and four-bedroom villas, including a spacious Capella Penthouse that boasts extensive amenities such as a winter garden, leisure room, gym, game room, and multimedia entertainment room.
<Research>CLSA Anticipates Investor Attention on Potential Dividend Payout Ratio Increase by MGM CHINA (02282.HK)
Dividend Payout Focus: Investors are looking for indications that MGM CHINA will increase its annual dividend payout ratio from 50% to counterbalance rising license and branding fees, according to a CLSA report.
Stock Valuation and Rating: MGM CHINA's current valuation is at an EV/Ebitda multiple of 7.1x for 2026, with CLSA maintaining an Outperform rating and a target price of $20.9.
MO Travel Sector Anticipates 160-170K Daily Inbound Tourists for CNY Holiday; GALAXY ENT Reports Hotels Nearly Fully Booked
Visitor Expectations: Hu Jingguang, President of the Travel Industry Council of Macau, anticipates that Macau will welcome approximately 160,000-170,000 visitors daily during the nine-day Chinese New Year holiday.
Hotel Booking Rates: Current hotel booking rates in Macau have surpassed 90%, indicating strong demand for accommodations during the holiday period.
Resort Demand: GALAXY ENT reported robust overall demand for its resorts, with hotel room bookings nearly at full capacity and high interest in dining reservations.
Stock Market Note: The article includes a brief mention of short selling data for GALAXY ENT, indicating a significant short selling amount and ratio.
HSI Declines by 65 Points at Opening; CATL and CMOC Start Strong Among Blue Chips; Alibaba and Baidu Struggle
US Inflation and Stock Market Update: US inflation was below expectations while core inflation met them; the DJIA rose by 0.1% last Friday.
Hong Kong Stock Market Performance: The Hong Kong bourse opened lower, with the HSI down 0.2% and other indices also showing declines.
HSI Quarterly Review Changes: CATL, CMOC, and LAOPU GOLD were added to the HSI, while ZHONGSHENG HLDG was removed; CATL and CMOC saw slight increases in their stock prices.
Notable Stock Movements: Stocks like BABA-W and BIDU-SW dropped significantly after being listed as Chinese military companies, while ANTA SPORTS received approval for a stake acquisition in PUMA.
Forbes Reveals 2026 List of Hong Kong's 50 Wealthiest Individuals; Li Ka-shing Maintains First Place with HKD351.7 Billion
Li Ka-shing's Wealth: Li Ka-shing remains Hong Kong's richest person with an estimated wealth of HKD351.78 billion, according to Forbes' 2026 list of the 50 richest individuals in Hong Kong.
Top Rankings: The second position is held by Lee Ka Kit and his family with a net worth of HKD272.22 billion, followed by the Cheng Kar-Shun family in third place with HKD203.58 billion.
Notable Figures: Kwong Siu Hing of SHK PPT ranks fifth with HKD136.5 billion, while other notable figures in the top ten include Peter Woo, Joseph Lau, Joe Tsai, the Lui Yiu Tung family, and Jean Salata.
Market Context: The article also mentions short selling data and stock performance related to these wealthy individuals and their companies, indicating market activity as of February 11, 2026.
Forbes HK Reveals 2026's 50 Wealthiest Individuals; Li Ka-shing Maintains Leading Position with HKD351.7 Billion
Li Ka-shing's Wealth: Li Ka-shing remains Hong Kong's richest person in 2026 with an estimated wealth of HKD351.78 billion, continuing his streak at the top of the Forbes list.
Top Rankings: The second position is held by Lee Ka Kit and family with HKD272.22 billion, followed by the Cheng Kar-Shun family at third with HKD203.58 billion.
Notable Figures: Kwong Siu Hing of SHK PPT moved up to fifth place with HKD136.5 billion, while Peter Woo and Joseph Lau occupy the sixth and seventh spots, respectively.
Additional Rankings: The eighth to tenth positions are held by Joseph Tsai, Lui Yiu Tung family, and Jean Salata, with net worths ranging from approximately HKD74.1 billion to HKD116.2 billion.
GALAXY ENT Launches Capella Hotel Featuring 95 Suites and Villas
New Hotel Opening: Galaxy Entertainment has opened its latest luxury hotel, Capella, designed for high-end guests, featuring 95 suites and villas with exclusive services like 24-hour private butler assistance.
Villas and Amenities: The hotel offers two-bedroom and four-bedroom villas, including a spacious Capella Penthouse that boasts extensive amenities such as a winter garden, leisure room, gym, game room, and multimedia entertainment room.
<Research>CLSA Anticipates Investor Attention on Potential Dividend Payout Ratio Increase by MGM CHINA (02282.HK)
Dividend Payout Focus: Investors are looking for indications that MGM CHINA will increase its annual dividend payout ratio from 50% to counterbalance rising license and branding fees, according to a CLSA report.
Stock Valuation and Rating: MGM CHINA's current valuation is at an EV/Ebitda multiple of 7.1x for 2026, with CLSA maintaining an Outperform rating and a target price of $20.9.
