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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.