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01928 SANDS CHINA LTD
RTNominal down19.700 -1.250 (-5.967%)
Research Report

04/11/2019 11:29

{I-bank focus}Jefferies optimistic for rebound in Macau GGR

[ET Net News Agency, 4 November 2019] Jefferies Research said Macau's October GGR
declined 3.2% YoY to MOP26.4bn, which is broadly in line with its prior expectations as
the research house believes on-going VIP weakness is offset by stronger mass gaming.
During recent 3Q results conference calls, Jefferies senses management are relatively
more optimistic for 2020 citing low base for VIP, strong mass (Premium and Base) and no
impact from Hong Kong situation.
Jefferies remains optimistic for a rebound in Macau GGR and related stocks as the
economy rebounds in China. It favors Sands China (01928) and Wynn Macau (01128). (KL)

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