KB Global Chairman Zhang Guorong Reveals Casino Stock Picks for 5% Dividends Ahead of Golden Week
SingTao · 1 SOURCESabout 3 hours ago2 MIN
Summary
KB Global (148) chairman Zhang Guorong has revealed purchasing two Macau casino stocks—Galaxy Entertainment (027) and MGM China (2282)—for their dividend yields above 5%, ahead of the October Golden Week holiday. Macau's gaming revenue fell 1.2% year-on-year in August, marking the third consecutive month of decline, though the decline has narrowed compared to June and July. A financial strategist favors Galaxy Entertainment as the top pick among gaming stocks but cautions that dividend stability remains a concern.
Key Points
- KB Global chairman Zhang Guorong disclosed buying Galaxy Entertainment and MGM China for dividends exceeding 5%
- Galaxy Entertainment closed at HK$33.70 on Monday with ~5% dividend yield; MGM China at HK$10.27 with ~5.9% yield
- Macau August gaming revenue reached 21.89 billion Macau patacas, down 1.2% YoY and up 8.1% month-on-month
- June and July gaming revenues declined 12.1% and 8.4% YoY respectively, the third consecutive monthly decline
- Everbright Securities International strategist Bruce Ng recommends Galaxy Entertainment as top pick, citing its market share and new hotel attractions
Why It Matters
Zhang's high-profile endorsement of gaming stocks coincides with investor attention on Macau's recovery trajectory ahead of the Golden Week holiday, a critical period for the sector. The narrowing of year-on-year declines suggests the World Cup effect may be fading, but sustained recovery hinges on mainland consumer sentiment and capital outflow policies .
Zhang's high-profile endorsement of gaming stocks coincides with investor attention on Macau's recovery trajectory ahead of the Golden Week holiday, a critical period for the sector. The narrowing of year-on-year declines suggests the World Cup effect may be fading, but sustained recovery hinges on mainland consumer sentiment and capital outflow policies .