Analysts at JP Morgan Securities suggest a year-on-year GGR growth in the low to mid-single digits.<\/p>\n\n\n\n\n\n\n\n
Macau.- JPMorgan Securities (Asia Pacific) <\/strong>has said that it expects the Chinese New Year (CNY) to be a “modest” event regarding the performance of the Macau casino sector. It has forecast low to mid-single-digits year-on-year growth in gross gaming revenue (GGR).<\/p>\n\n\n\n Analysts DS Kim, Mufan Shi and Selina Li said 99 per cent of casino hotels are fully booked<\/strong> for the peak days of the holiday period. However, this was already observed last year and may not significantly indicate year-on-year growth. This year, Chinese New Year Golden Week will take place from January 28 to February 4.<\/p>\n\n\n\n In 2024, the city\u2019s average hotel occupancy rate peaked at 95.2 per cent<\/a> during the holiday period, from February 10 to 17. There were 1,357,064 visitor arrivals<\/strong> over the eight days, translating to a daily average of 169,631. <\/p>\n\n\n\n As regards the fourth quarter of 2024, analysts said that Macau achieved its best GGR in 20 quarters<\/strong> even amidst a challenging macroeconomic environment attributed to a crisis in the Chinese economy.<\/p>\n\n\n\n In terms of market share, the brokerage said that Sands China<\/strong> was the largest contributor in the fourth quarter of the year, with a market share of 23.5 per cent of GGR. However, the figure was down almost 100 basis points quarter-on-quarter, mainly due to the renovation of the Londoner Macao rooms.<\/p>\n\n\n\n It was followed by Galaxy Entertainment Group<\/a> which contributed 19.7 per cent of GGR. MGM China Holdings<\/a> contributed 15.6 per cent of Macau\u2019s GGR. <\/p>\n\n\n\n SJM Holdings<\/strong> share was 13.6 per cent, followed by Wynn Macau<\/strong> and Melco Resorts & Entertainment<\/strong> with a market share relatively stable in year-on-year terms.<\/p>\n\n\n\n As for the first half of 2025, the brokerage expects GGR to grow 4 per cent in year-on-year terms. However, it noted year-on-year comparisons are “quite difficult this year”.<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts at JP Morgan Securities suggest a year-on-year GGR growth in the low to mid-single digits.<\/p>\n","protected":false},"author":176,"featured_media":26797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JPMorgan Securities forecasts low to mid-single-digit year-on-year GGR growth for Macau's casino sector during Chinese New Year, despite high hotel occupancy. Q4 2024 saw the best GGR in 20 quarters, with Sands China leading market share, while H1 2025 is projected for 4% GGR growth amidst challenging comparative periods.","focusai_entities":"JPMorgan Securities (Asia Pacific), DS Kim, Mufan Shi, Selina Li, Sands China, Galaxy Entertainment Group, MGM China Holdings, SJM Holdings, Wynn Macau, Melco Resorts & Entertainment, The Londoner Macao","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macroeconomic Impact","query":"What specific macroeconomic indicators within the Chinese economy are exerting the most significant influence on Macau's GGR trajectory, and what are the projected implications for operator profitability in H2 2025?"},{"label":"Market Share Strategy","query":"How are the capital expenditure programs, such as The Londoner Macao's renovation, anticipated to recalibrate Sands China's market share and overall GGR contribution in the medium term, considering competitive responses?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,23906],"class_list":["post-777022047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022047","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=777022047"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022047\/revisions"}],"predecessor-version":[{"id":777022164,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022047\/revisions\/777022164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26797"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}