{"id":777036973,"date":"2026-01-20T15:24:05","date_gmt":"2026-01-20T18:24:05","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777036973"},"modified":"2026-04-21T15:11:24","modified_gmt":"2026-04-21T18:11:24","slug":"jefferies-projects-macau-mass-market-ggr-growth-of-6-6-per-cent-in-2026","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jefferies-projects-macau-mass-market-ggr-growth-of-6-6-per-cent-in-2026","title":{"rendered":"Jefferies projects Macau mass-market GGR growth of 6.6 per cent in 2026"},"content":{"rendered":"\n

Jefferies noted that Macau\u2019s casino sector likely saw a rise in profitability in Q4 compared with Q3.<\/p>\n\n\n\n\n\n\n\n

Macau.- Jefferies Hong Kong Ltd <\/strong>has forecast that Macau\u2019s mass-market gross gaming revenue (GGR) will grow 6.6 per cent<\/strong> year-on-year in 2026. That compares to an estimated 4.3 per cent<\/strong> in 2025.<\/p>\n\n\n\n

The note says VIP GGR growth is expected to decline from 24.1 per cent in 2025 to 2 per cent in 2026<\/strong>. Mass GGR is projected to reach MOP191.26\u202fbn<\/strong> (US$23.82\u202fbn) and VIP GGR MOP69.34bn (<\/strong>US$8.63bn).<\/p>\n\n\n\n

On expectations for fourth-quarter 2025 earnings, Jefferies expects a rise in profitability compared with Q3. Analysts Anne Ling and Jingjue Pei <\/strong>wrote in the report: \u201cWe expect improvement versus third-quarter 2025, which was impacted by two typhoons, though partially offset by rising competition as Sands China Ltd and Wynn Macau Ltd stepped up incentives in this quarter.\u201d<\/p>\n\n\n\n

It said Sands China and Galaxy Entertainment<\/strong> saw Q4 GGR market shares of 24.4 per cent, up 0.5 points, and 22.1 per cent, up 1.7 points, respectively. It added that strong attendance during China\u2019s National Golden Week<\/strong> and National Games<\/strong>, jointly organised by Macau, Hong Kong and Guangdong province in November, boosted performance for the operators.<\/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> Jefferies lifts growth forecast for Macau\u2019s casino sector<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Jefferies noted that Macau\u2019s casino sector likely saw a rise in profitability in Q4 compared with Q3.<\/p>\n","protected":false},"author":2395,"featured_media":777030415,"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 Hong Kong Ltd projects Macau's mass-market GGR to achieve 6.6% year-on-year growth in 2026, an acceleration from 4.3% in 2025, while VIP GGR is expected to decelerate significantly. The firm anticipates enhanced Q4 2025 profitability for the sector, despite heightened competitive intensity from key operators, bolstered by robust attendance during national events.","focusai_entities":"Jefferies Hong Kong Ltd, Jefferies, Anne Ling, Jingjue Pei, Sands China Ltd, Wynn Macau Ltd, Galaxy Entertainment","focusai_location":"Macau, Hong Kong, Guangdong, China","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau GGR Drivers","query":"What specific macroeconomic and operational factors are projected to underpin the accelerated mass-market GGR growth in Macau for 2026, and how do these diverge from the drivers impacting the anticipated VIP GGR deceleration?"},{"label":"Operator Competitive Dynamics","query":"How are the intensified incentive strategies by Sands China Ltd and Wynn Macau Ltd influencing the competitive equilibrium and NGR margins across the Macau concessionaires, particularly in the context of the forecasted Q4 2025 profitability improvements?"}],"footnotes":""},"categories":[16338,163],"tags":[29,257,25087],"class_list":["post-777036973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-casino","tag-macau","tag-vip-ggr"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036973","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\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777036973"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036973\/revisions"}],"predecessor-version":[{"id":777036977,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036973\/revisions\/777036977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777030415"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777036973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777036973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777036973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}