{"id":777011047,"date":"2023-11-13T03:39:18","date_gmt":"2023-11-13T06:39:18","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011047"},"modified":"2026-04-22T16:17:14","modified_gmt":"2026-04-22T19:17:14","slug":"macau-casino-stock-drop-analysts-dismisses-concerns","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-casino-stock-drop-analysts-dismisses-concerns","title":{"rendered":"JP Morgan remains confident in Macau casino stocks"},"content":{"rendered":"\n<p>Analysts predict decent Q4 growth.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0JP Morgan Securities (Asia Pacific Ltd)\u00a0has expressed confidence in the resilience of Macau\u2019s casino stocks despite drops of between 2.5 per cent and 12.7 per cent on Friday. Analysts DS Kim, Mufan Shi, and Selina Li said the drop was an exaggerated since Macau operators as a group largely delivered Q3 results in line with expectations.<\/p>\n\n\n\n<p>The drop in stocks on Friday followed Thursday&#8217;s third-quarter results from Wynn Macau and\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/galaxy-entertainment-group-net-revenue-up-11-4-in-q3\" target=\"_blank\">Galaxy Entertainment Group Ltd<\/a>, in which EBITDA wase below market consensus from a sequential perspective.\u00a0Melco Resorts &amp; Entertainment Ltd&#8217;s quarterly EBITDA, reported on Tuesday, was also below the market&#8217;s expectations from a quarter-on-quarter standpoint. <\/p>\n\n\n\n<p>However, Mass gross gaming revenue (GGR) in Q3 rose by 12 per cent quarter-on-quarter, driving a 15 per cent quarter-on-quarter growth in industry EBITDA. Fourth-quarter performance in mass-market casino GGR is expected to grow by 12 per cent sequentially, more than the average quarter-on-quarter uptick during the period 2014 to 2019.<\/p>\n\n\n\n<p>JP Morgan noted that the majority of operating expense increases in the third quarter could be attributed to openings, such as Raffles at Galaxy Macau in July and\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/andaz-macau-to-fully-open-by-february-analysts-say\" target=\"_blank\">Andaz in September<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts predict decent Q4 growth.<\/p>\n","protected":false},"author":176,"featured_media":24846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JP Morgan analysts express confidence in Macau's casino stocks, despite recent drops, attributing market reaction to exaggerated responses to Q3 EBITDA figures that were largely in line with expectations. The report highlights robust Q3 mass GGR growth and projects continued sequential growth for Q4, driven by market recovery and new property openings.","focusai_entities":"JP Morgan Securities (Asia Pacific Ltd), DS Kim, Mufan Shi, Selina Li, Wynn Macau, Galaxy Entertainment Group Ltd, Melco Resorts & Entertainment Ltd, Raffles at Galaxy Macau, Andaz","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q4 GGR Drivers?","query":"What specific factors, beyond new openings, are expected to drive the projected 12% sequential growth in Macau's mass-market GGR for Q4, and how sustainable are these drivers?"},{"label":"Operator EBITDA Discrepancy?","query":"Given the overall industry EBITDA growth, what specific operational or market-segment factors led to Wynn Macau, Galaxy Entertainment, and Melco Resorts' Q3 EBITDA falling below market consensus?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906],"class_list":["post-777011047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011047"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011047\/revisions"}],"predecessor-version":[{"id":777040979,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011047\/revisions\/777040979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24846"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}