{"id":777036476,"date":"2026-01-06T09:16:35","date_gmt":"2026-01-06T12:16:35","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777036476"},"modified":"2026-04-21T15:40:47","modified_gmt":"2026-04-21T18:40:47","slug":"jp-morgan-sees-macau-gaming-profits-surpassing-revenue-expansion-in-2026","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jp-morgan-sees-macau-gaming-profits-surpassing-revenue-expansion-in-2026","title":{"rendered":"JP Morgan sees Macau gaming profits surpassing revenue expansion in 2026"},"content":{"rendered":"\n

Analysts project that profit growth is likely to reach between 6 and 7 per cent.<\/p>\n\n\n\n\n\n\n\n

Macau.- JP Morgan forecasts that gross gaming revenue (GGR) at Macau casinos will grow by between 5 and 6 per cent in 2026, with industry profits expected to rise faster. Analysts project that while overall revenue growth will be moderate, profit growth is likely to reach between 6 and 7 per cent, exceeding revenue expansion for the first time since the Covid-19 pandemic.,<\/p>\n\n\n\n

The forecasts follow better-than-expected performance in 2025, when Macau\u2019s full-year GGR rose 9 per cent to MOP 247.4bn (US$30.9bn)<\/a>, nearly double JP Morgan\u2019s initial growth estimate of 5 per cent. Momentum culminated in the strongest quarterly result in six years in the fourth quarter, when GGR reached MOP 66.1bn (US$8.2bn), up 15 per cent year-on-year and 6 per cent quarter-on-quarter.<\/p>\n\n\n\n

December 2025 delivered GGR of MOP 20.9bn (US$2.6bn), representing a 15 per cent year-on-year increase and approximately 91 per cent of pre-pandemic levels. While the result came in slightly below market expectations, analysts attributed that to elevated forecasts rather than weakening demand.<\/p>\n\n\n\n

Looking ahead to 2026, JP Morgan expects mass-market and slot revenue to grow by 7 to 8 per cent, while VIP revenue is forecast to decline by around 5 per cent. This view aligns with industry expectations. Other analysts, including those at Deutsche Bank, are also projecting mid-single-digit GGR growth in 2026, alongside stronger profit expansion.<\/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 sets new record for annual visitor arrivals in 2025<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Analysts project that profit growth is likely to reach between 6 and 7 per cent.<\/p>\n","protected":false},"author":680,"featured_media":777035118,"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 forecasts Macau's GGR to grow 5-6% in 2026, with industry profits projected to rise faster at 6-7%, marking the first time profit growth outpaces revenue since the Covid-19 pandemic. This follows a robust 2025, where full-year GGR reached MOP 247.4bn, exceeding initial estimates. The outlook for 2026 anticipates strong mass-market and slot revenue growth, offsetting a decline in VIP revenue.","focusai_entities":"JP Morgan, Deutsche Bank","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Growth Drivers?","query":"What are the primary drivers behind the projected 5-6% GGR growth in Macau for 2026, specifically differentiating between mass-market and VIP segment contributions and their respective growth catalysts?"},{"label":"Profit vs. Revenue Disparity?","query":"How will Macau casino operators achieve profit growth of 6-7% in 2026, exceeding revenue expansion, and what operational efficiencies, cost management strategies, or revenue mix shifts are enabling this disparity?"}],"footnotes":""},"categories":[157,16338],"tags":[24685,24864,257,2054],"class_list":["post-777036476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-gaming-revenue","tag-jp-morgan","tag-macau","tag-revenue"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036476","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\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777036476"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036476\/revisions"}],"predecessor-version":[{"id":777036491,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036476\/revisions\/777036491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777035118"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777036476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777036476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777036476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}