UBS: GALAXY ENT (00027) and WYNN MACAU (01128) casino market share increases in April.

UBS released a research report stating that according to its channel survey, the average daily gross gaming revenue in Macau's mass market sector increased by about 3% in April compared to the first quarter, and by nearly 11% year-on-year; while the VIP gaming revenue decreased by almost 39% on a daily average compared to the first quarter, and by nearly 13% year-on-year. In terms of individual operators, GALAXY ENT(00027) was the biggest winner in terms of market share in April, with an increase of nearly 250 basis points month-on-month and nearly 90 basis points compared to the first quarter. WYNN MACAU(01128) followed closely behind, with an increase of nearly 200 basis points month-on-month and nearly 150 basis points compared to the first quarter. The bank stated that the market share growth of these two operators mainly came from the share lost by Sands China (01928). Sands' market share declined by nearly 300 basis points in April compared to the previous month, and by nearly 360 basis points compared to the first quarter, possibly due to weaker seasonal factors and fluctuations in win rate. MGM CHINA (02282) maintained its market share at a stable level of around 18% month-on-month, and increased by nearly 180 basis points compared to the first quarter. Compared to market consensus, the market share of MGM CHINA and WYNN MACAU appears to be ahead of market expectations, while Sands China's market share lags behind.