J.P. Morgan forecasts Macau January GGR to be at least USD 2.2B
Thursday 18 de January 2024 / 12:00
2 minutos de lectura
(Macau).- Macau’s gross gaming revenue (GGR) for January is expected to range between MOP17.5 billion (US$2.2 billion) and MOP18 billion, meeting market expectations, brokerage J.P. Morgan said.
In a Monday note, analysts DS Kim, Mufan Shi and Selina Li highlighted the continuous “solid momentum”, citing that GGR for the first 14 days of January could have reached MOP8.6 billion. The figure translates to a robust daily run-rate of MOP614 million, surpassing the MOP599 million per day reported in December.
The analysts noted that last week’s daily GGR stood at MOP600 million, which was lower than the impressive New Year holiday print of MOP630 million but still regarded as “pretty solid and respectable against seasonality”.
Mass GGR has recovered to 105-110 per cent of pre-Covid level, while VIP segment GGR has remained stable at around 20 per cent of 2019 level, their recent estimate suggests.
While GGR is projected to experience a seasonal slowdown before the Chinese New Year holiday, the analysts expect that Macau’s January GGR will hit a range of MOP17.5 billion to MOP18 billion, which still satisfies market expectations in their eyes.
Macau gaming operators will start reporting fourth quarter earnings in late January, and J.P. Morgan predicts that industry EBITDA will grow 8 to 9 per cent quarter-on-quarter to reach 85 per cent of the pre-Covid level.
Investors is likely to scrutinise operating expenses and promotions or reinvestments, given the modest margin disappointments reported for the third quarter.
J.P. Morgan remains constructive on Macau stocks, primarily based on a valuation call and the surprisingly “resilient and solid demand” despite the challenging macroeconomic conditions.
Categoría:Reports
Tags: Sin tags
País: Macao
Región: Asia
Event
SiGMA Central Europe
03 de November 2025
SiGMA Central Europe 2025 Closes First Edition with High Attendance and Roman-Inspired Experiences
(Rome, Exclusive SoloAzar) - The first edition of SiGMA Central Europe in Rome came to a close, leaving a strong impression on the iGaming industry. With thousands of attendees, six pavilions brimming with innovation, and an atmosphere that paid homage to Roman history, the event combined spectacle, networking, and business opportunities. It also yielded key lessons for future editions.
Friday 07 Nov 2025 / 12:00
Innovation, Investment, and AI Take Center Stage on Day 3 of SiGMA Central Europe
(Rome, SoloAzar Exclusive).- November 6 marks the final and most dynamic day of SiGMA Central Europe 2025, with a packed agenda that blends cutting-edge tech, startup energy, and investor engagement. With exhibitions, conferences, and networking opportunities running throughout the day, Day 3 promises to close the event on a high note.
Thursday 06 Nov 2025 / 12:00
SiGMA Central Europe Awards 2025: BetConstruct Wins Innovative Sportsbook Solution of the Year
(Malta).- BetConstruct has been recognised at the SiGMA Central Europe Awards 2025, receiving the Innovative Sportsbook Solution of the Year award. This achievement highlights the company’s continued focus on elevating retail betting experiences and supporting operators with solutions that create measurable business value.
Wednesday 05 Nov 2025 / 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.