Galaxy Entertainment Group Limited (GXYEF)

[joelipp]

Deutsche Bank Opinion

Macau plays may take a near-term breather following Monday's strong rally on robust June Macau gambling revenue figures, which rose 52% on year to HK$20 billion, faster than the year-to-date trend of 45%. Deutsche Bank says this is better than market expectations, and proves that concerns on VIP slowdown are overblown. The house remains bullish on the sector with high conviction Buys on Galaxy Entertainment (0027.HK), SJM Holdings (0880.HK) and Melco Crown. Galaxy is JPM's top sector pick as "we are confident on the success of the newly opened Galaxy Macau. With the new project, Galaxy would be the biggest market share winner for 2011 and would have the highest EBITDA growth among Macau operators during 2011-2012." Galaxy rose 5.2% to HK$17.50 Monday. ([e-mail])

http://www.morningstar.co.uk/uk/markets/...

Comment: Deutsche Bank has been bullish on GEG since it traded at HK$0.27... JP Morgan also lists GEG as its Top Pick for 2011 in the Macau Casino Sector..