JP Morgan Ups Macau Gaming Forecast Following Demand Boom
Wednesday 13 de August 2025 / 12:00
⏱ 1 min read
(Macau).- Global investment firm JP Morgan has once again revised its outlook for Macau’s gaming industry, marking the third upward adjustment in just three months. The bank now anticipates a 13% year-on-year increase in gross gaming revenue (GGR) for the second half of 2025—significantly higher than the 4% growth recorded in the first half. The updated projection includes a 12% rise in Q3, accelerating to 16% in the final quarter, reflecting a robust surge in market demand.
JP Morgan’s latest upgrade follows three consecutive months of comfortable consensus beats, with both June and July seeing GGR up by 19% compared with the same month last year.
The sudden surge from Macau’s gaming sector is, according to JP Morgan analysts, is likely due to consumers viewing positively recent stock rallies in China, Hong Kong and the US, as evidenced by similar surges in Hong Kong retail Swiss watch exports and mainland luxury malls. It is also attributed to easier access to Hong Kong dollars on the bank of Hong Kong’s recent liquidity boom – itself evidence by “huge IPO oversubscriptions and plunging HIBOR”.
Likewise, “high-profile concerts and events provide gamblers a compelling excuse for more frequent trips, boosting Macau’s allure and capturing greater wallet/time share from gamblers and families,” the investment bank explained.
It also downplayed concerns that the surge is unsustainable, arguing that “Macau’s up-cycles typically span at least three to four quarters, fueled by loss/win-chasing behavior – gamblers’ losses spur “revenge” returns, while wins tempt repeat visits, creating a self-reinforcing demand loop.
“With 2Q25 marking the first stand-out beat post-reopening, we believe Macau’s momentum has (long) legs through 1Q26E at least, capitalizing on easy comps.”
Macau GGR for the first seven months of 2025 combined sits at MOP$140.9 billion (US$17.4 billion), representing a 6.5% year-on-year increase.
Categoría:Gaming
Tags: Sin tags
País: Macao
Región: Asia
Event
SiGMA North America 2026
01 de September 2026
LatAm Regulators Discussed Illegal Gambling and Innovation at SiGMA North America
(Mexico City, SoloAzar Exclusive).- The panel "The Red Pen Forum: Regulators Respond to the Industry," held during SiGMA North America 2026, brought together representatives from Uruguay, Argentina, Puerto Rico, and Honduras to analyze regulatory challenges, digital transformation, illegal gambling, and the need to adapt lotteries for new generations. The conference was moderated by Rodrigo Cigliutti, Executive Director of CIBELAE (Ibero-American Corporation of State Lotteries and Betting), and featured the participation of Marcelo Visconti, National Director of Lotteries and Quinielas of Uruguay; Carlos Moyano, President of IAFAS Entre Ríos, Argentina; Heidi Hernández Olivo, Deputy Secretary of the Puerto Rico Lottery; and Lissa Mencía, General Director of Lottery Operations and Games at Loto Honduras.
Monday 28 Sep 2026 / 12:00
SiGMA North America Addressed Crisis Management in iGaming
(Mexico, SoloAzar Exclusive).- During SiGMA North America 2026, Rosa Ochoa, founder of the Blue Global Gaming platform and strategic advisor for gaming operators; Iliana María Pineda Echeverri, Chief Legal & Compliance Officer at Wplay.co; Iraid Rosales, Country Manager Mexico at Amusnet; and Elizabeth Maya Cano, Executive President of CORNAZAR, analyzed the key factors in managing crisis situations within the iGaming industry, with a special focus on transparency, communication, technology, and preparation.
Friday 25 Sep 2026 / 12:00
Affiliates and Acquisition: Keys to Regulated Markets in North America
(Mexico City, SoloAzar Exclusive).- During SiGMA North America 2026, Cristopher Guzmán Reyes, Head of Affiliates at Logrand Entertainment Group; Guga Júnior, influencer and slots expert at Scalar Partners; Andrés Gómez, Head of Latin America Go-to-Market Strategy at Admattic; Yambot Aguilera, Gaming and Finance Sales Director at Google; and Paula Gabriel Jiménez, Advertising Client Growth Director for Microsoft at Aleph, analyzed the state and provincial affiliate ecosystem in North America, as well as the acquisition challenges in regulated markets.
Thursday 24 Sep 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
