{"id":777029095,"date":"2025-07-16T08:39:51","date_gmt":"2025-07-16T11:39:51","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777029095"},"modified":"2026-04-21T20:57:38","modified_gmt":"2026-04-21T23:57:38","slug":"jefferies-cuts-macau-ggr-forecast-2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jefferies-cuts-macau-ggr-forecast-2","title":{"rendered":"Jefferies cuts Macau GGR forecast"},"content":{"rendered":"\n

Its estimate remains higher than the government forecast.<\/p>\n\n\n\n\n\n\n\n

Macau.- Jefferies<\/strong> has revised downwards its gross gaming revenue (GGR) forecast for Macau\u2019s casino sector. Analysts now expect GGR for 2025 to reach MOP237bn (US$29.3bn), down 1.3 per cent from their previous estimate of MOP240bn (US$30bn)<\/a>. That would be in line with market estimates, but higher than government estimates.<\/a><\/p>\n\n\n\n

Analysts Anne Ling and Jingjue Pei wrote: \u201cBased on the first-half 2025 GGR trend<\/a>, which was up 4.4 per cent year-on-year to MOP119bn, we lower our 2025\/26\/27 GGR assumptions slightly.\u201d<\/p>\n\n\n\n

They expect GGR growth of 4.5 per cent year-on-year<\/strong>.\u00a0This compares to the market forecast of 4 per cent growth to MOP236bn and the government\u2019s estimate of 0.5 per cent growth to MOP228bn. The Jefferies team said Galaxy Entertainment Group<\/strong> and MGM China Holdings<\/strong> will increase market share in 2025 and 2026 and that Sands China <\/strong>will eventually catch up.<\/p>\n\n\n\n

Analysts also upgraded their forecast for the next two years<\/strong>, expecting GGR to grow 3.5 per cent to MOP245bn (US$30.3bn) in 2026 and 3.4 per cent to MOP254bn (US$31.4bn) in 2027.<\/p>\n\n\n\n


<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau government lowers GGR forecast for 2025<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Its estimate remains higher than the government forecast.<\/p>\n","protected":false},"author":226,"featured_media":777027982,"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 gross gaming revenue (GGR) forecast for Macau's casino sector downwards for 2025 to MOP237bn, though this remains higher than the government's estimate. Concurrently, the firm upgraded its GGR outlook for 2026 and 2027, projecting market share gains for Galaxy Entertainment Group and MGM China Holdings.","focusai_entities":"Jefferies, Anne Ling, Jingjue Pei, Galaxy Entertainment Group, MGM China Holdings, Sands China","focusai_location":"Macau","focusai_target_profile":"investor_analyst (1.0), ceo_executive (0.95), operator_casino (0.9), journalist_researcher (0.85), supplier_vendor (0.7)","focusai_suggestions":[{"label":"Macau GGR Drivers?","query":"What specific macroeconomic factors or policy changes are Jefferies analysts factoring into their revised GGR forecasts for Macau, particularly for the 2026-2027 upgrades?"},{"label":"Operator Strategy Impact?","query":"How might the projected market share gains for Galaxy Entertainment Group and MGM China Holdings, and Sands China's eventual catch-up, influence their respective capital allocation and marketing strategies in Macau?"}],"footnotes":""},"categories":[16338,163],"tags":[257],"class_list":["post-777029095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777029095","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777029095"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777029095\/revisions"}],"predecessor-version":[{"id":777029137,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777029095\/revisions\/777029137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777027982"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777029095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777029095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777029095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}