{"id":777037569,"date":"2026-02-03T08:10:24","date_gmt":"2026-02-03T11:10:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777037569"},"modified":"2026-04-21T14:45:56","modified_gmt":"2026-04-21T17:45:56","slug":"morgan-stanley-sees-macau-casino-ggr-rising-18-in-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/morgan-stanley-sees-macau-casino-ggr-rising-18-in-q1","title":{"rendered":"Morgan Stanley sees Macau casino GGR rising 18% in Q1"},"content":{"rendered":"\n

The investment bank forecasts a Chinese New Year boost in February.<\/p>\n\n\n\n\n\n\n\n

Macau.- Gross gaming revenue (GGR) from Macau casinos is expected to rise 18 per cent year-on-year in Q1, according to a research note from Morgan Stanley.<\/p>\n\n\n\n

The investment bank said January gaming revenue beat expectations at MOP22.6bn (US$2.8bn), up 24 per cent year-on-year and 8 per cent month-on-month. It expects February GGR to be up by around 22 per cent year-on-year, supported by the timing of the Chinese New Year holiday, which falls entirely in February this year.<\/p>\n\n\n\n

Morgan Stanley noted that first-quarter performance would also benefit from a lower comparison base in early 2025. While the market has expressed concerns about weaker margins and higher promotional activity toward the end of last year, it believes a stronger first quarter should help drive positive revisions to earnings expectations across the sector.<\/p>\n\n\n\n

Among listed operators, the bank said it remains optimistic on Galaxy Entertainment, Sands China and Melco Resorts & Entertainment, assigning \u201cOverweight\u201d ratings to all three. MGM China was rated \u201cNeutral,\u201d while SJM Holdings was given an \u201cUnderweight\u201d rating.<\/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 January GGR outperforming pre-pandemic seasonal trends, says UBS<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The investment bank forecasts a Chinese New Year boost in February.<\/p>\n","protected":false},"author":680,"featured_media":24846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley forecasts an 18% year-on-year increase in Macau's Q1 Gross Gaming Revenue (GGR), driven by strong January performance and the timing of the Chinese New Year holiday. The investment bank anticipates positive earnings revisions across the sector, maintaining \"Overweight\" ratings for Galaxy Entertainment, Sands China, and Melco Resorts & Entertainment.","focusai_entities":"Morgan Stanley, Galaxy Entertainment, Sands China, Melco Resorts & Entertainment, MGM China, SJM Holdings, UBS","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q1 GGR Drivers","query":"What specific factors, beyond the Chinese New Year timing, are contributing to Morgan Stanley's optimistic Q1 GGR forecast for Macau, particularly regarding the lower comparison base in early 2025?"},{"label":"Operator Rating Rationale","query":"What are the underlying financial and operational metrics that differentiate Morgan Stanley's 'Overweight' ratings for Galaxy Entertainment, Sands China, and Melco Resorts & Entertainment from the 'Neutral' for MGM China and 'Underweight' for SJM Holdings?"}],"footnotes":""},"categories":[157,16338],"tags":[25105,24944,24955,257,25108],"class_list":["post-777037569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-chinese-new-year","tag-forecast","tag-gross-gaming-revenue-ggr","tag-macau","tag-morgan-stanley"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777037569","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=777037569"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777037569\/revisions"}],"predecessor-version":[{"id":777037580,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777037569\/revisions\/777037580"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24846"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777037569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777037569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777037569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}