0629 GMT - Galaxy Entertainment Group is expected to continue gaining market share in coming quarters, says Chokwai Lee, Morningstar director in a note. This will be driven by factors such as the opening of Capella at Galaxy Macau, Lee writes. The property, which is targeted to open mid-2025, will offer about 100 ultra-luxury sky villas and suites. However, Lee expects industry gross gaming revenue growth will ease to 6% this year from 24% a year ago, amid China's macro economy and consumption headwinds. This could moderate the casino operator's earnings growth, Lee says. Morningstar lowers its fair value estimate for the stock to HK$48 from HK$52. Shares are 1.7% higher at HK$32.45.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 01:29 ET (06:29 GMT)
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