{"id":777023874,"date":"2025-03-10T09:45:14","date_gmt":"2025-03-10T12:45:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777023874"},"modified":"2026-04-22T01:01:10","modified_gmt":"2026-04-22T04:01:10","slug":"jefferies-cuts-macau-ggr-forecast","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jefferies-cuts-macau-ggr-forecast","title":{"rendered":"Jefferies cuts Macau GGR forecast"},"content":{"rendered":"\n<p>Its estimate remains higher than the market consensus.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0Jefferies has revised downwards its gross gaming revenue (GGR) forecast for Macau\u2019s casino sector. Analysts now expect GGR for 2025 to reach MOP240bn (US$30bn), down 2 per cent from their previous estimate of MOP245bn. That would be a rise of 5.8 per cent year-on-year, which is in line with <a href=\"https:\/\/focusgn.com\/asia-pacific\/gaming-in-macau-government-forecasts-29-7bn-in-revenue-for-2025\" target=\"_blank\" rel=\"noreferrer noopener\">government estimates<\/a>.<\/p>\n\n\n\n<p>Analysts noted that GGR was flatish in the first two months of the year at MOP38bn, an increase of 0.5 per cent in year-on-year terms. For the remaining months of 2025, Jefferies expects GGR growth to accelerate, rising 6.9 per cent year-on-year. Its estimate remains 2 per cent higher than the market consensus.<\/p>\n\n\n\n<p>Jefferies has also lowered its market share projects for Sands China and Galaxy Entertainment Group for 2025 and 2026. It predicts that Sands China\u2019s market share will rise from 24.1 per cent in 2024 to 25.1 per cent by 2026. Galaxy Entertainment&#8217;s share is now forecast to rise from 18.8 per cent to 19.3 per cent by 2026. SJM Holdings&#8217;s share is forecast to fall by about 0.8 percentage points to 12.4 per cent by 2026.<\/p>\n\n\n<div id=\"see-also-container\"><\/p>\n<div class=\"related-article\"><img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/asia-pacific\/wp-content\/uploads\/sites\/5\/2021\/08\/httpswww.ggrasia.com60pct-macau-airport-august-flights-cancelled-operator-300x200.jpg\" \/><\/p>\n<p class=\"related-article__text\"><span class=\"see-also-label-strong\">See also:<\/span> <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-rises-in-february\">Macau GGR rises in February<\/a><\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Its estimate remains higher than the market consensus.<\/p>\n","protected":false},"author":176,"featured_media":26451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Jefferies has revised its 2025 Gross Gaming Revenue (GGR) forecast for Macau downwards by 2% to MOP240bn (US$30bn), though this estimate remains 2% above market consensus. The firm also adjusted market share projections for key concessionaires, anticipating increases for Sands China and Galaxy Entertainment Group, while SJM Holdings is projected to see a slight decline by 2026.","focusai_entities":"Jefferies, Sands China, Galaxy Entertainment Group, SJM Holdings","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Why Jefferies' higher?","query":"What specific factors underpin Jefferies' GGR forecast remaining 2% above the market consensus, and what are the potential implications of this divergence?"},{"label":"Market Share Strategy?","query":"How might Sands China and Galaxy Entertainment Group leverage their projected market share gains, and what strategic adjustments might SJM Holdings implement to mitigate its anticipated decline?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906],"class_list":["post-777023874","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\/777023874","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=777023874"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023874\/revisions"}],"predecessor-version":[{"id":777023908,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023874\/revisions\/777023908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26451"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777023874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777023874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777023874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}