{"id":777044919,"date":"2026-07-15T07:33:29","date_gmt":"2026-07-15T10:33:29","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777044919"},"modified":"2026-07-15T11:12:31","modified_gmt":"2026-07-15T14:12:31","slug":"jefferies-expects-macau-ggr-recovery-from-august-despite-lowering-2026-forecast","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jefferies-expects-macau-ggr-recovery-from-august-despite-lowering-2026-forecast","title":{"rendered":"Jefferies lowers Macau GGR forecast, expects recovery from August"},"content":{"rendered":"\n

The brokerage expects GGR to return to growth following the end of the World Cup.<\/p>\n\n\n\n\n\n\n\n

Macau.- Investment bank Jefferies has lowered its full-year 2026 growth forecast for Macau gross gaming revenue (GGR) following a soft June and and July. Logically, it expects GGR to return to growth in August as the impact of the FIFA World Cup fades.<\/p>\n\n\n\n

Jefferies now forecasts Macau’s GGR will grow 5 per cent year-on-year in 2026 to MOP260bn (US$32bn), down from its previous estimate<\/a> of 6.8 per cent growth. The revised outlook places the brokerage slightly below the market consensus of around 6 per cent growth for the year.<\/p>\n\n\n\n

According to analysts Anne Ling and Jingjue Pei<\/strong>, the FIFA World Cup, capital controls and tougher year-on-year comparisons weighed on the market during the second quarter. Macau generated MOP66bn (US$8.2bn) in GGR in Q2, down 7.4 per cent quarter-on-quarter and 0.1 per cent year-on-year. Despite the Q2 slowdown, first-half GGR still increased by 6.8 per cent to MOP126.9bn (US$15.7bn).<\/p>\n\n\n\n

Jefferies expects July GGR to be down by 8 per cent year-on-year as the World Cup, which concludes on Sunday July 19, continues to divert consumer spending away from Macau’s gaming sector. Jefferies forecasts that growth from August will see GGR grow by 2 per cent year-on-year in the third quarter before accelerating to 4 per cent growth in the fourth.\u00a0<\/p>\n\n\n\n

The forecast revision follows similar adjustments by other brokerages. Earlier this week, CLSA lowered its forecast for Macau\u2019s 2026 GGR<\/a> growth to MOP253.2bn (US$31.3bn). Citigroup\u00a0has maintained its forecast that Macau\u2019s gross gaming revenue (GGR) will reach MOP19bn (US$2.35bn) in July, representing a\u00a05 per cent year-on-year decline<\/strong>.\u00a0<\/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> CLSA cuts Macau 2026 GGR forecast after weak June performance and expectation of a soft July<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The brokerage expects GGR to return to growth following the end of the World Cup.<\/p>\n","protected":false},"author":226,"featured_media":777006346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Investment bank Jefferies has lowered its 2026 Macau Gross Gaming Revenue (GGR) growth forecast to 5% (MOP260bn), citing a soft Q2 influenced by the FIFA World Cup, capital controls, and challenging year-on-year comparisons. This adjustment places Jefferies below market consensus, though a return to growth is anticipated from August. Other brokerages like CLSA and Citigroup have also made similar or maintained cautious forecasts.","focusai_entities":"Jefferies, FIFA, Anne Ling, Jingjue Pei, CLSA, Citigroup","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 (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Forecast Divergence","query":"What are the specific underlying assumptions, particularly regarding capital controls and VIP segment recovery, that differentiate Jefferies' 2026 Macau GGR forecast from the broader market consensus?"},{"label":"Operator Strategic Adjustments","query":"How are Macau's concessionaires likely to recalibrate their non-gaming investment strategies and marketing spend in light of these moderated GGR growth projections for 2026?"}],"footnotes":""},"categories":[16338,163,24628,158],"tags":[24619,24944,725,24891,257],"class_list":["post-777044919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","category-highlight-of-the-week","category-slider-home","tag-finance","tag-forecast","tag-ggr","tag-jefferies","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777044919","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=777044919"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777044919\/revisions"}],"predecessor-version":[{"id":777044940,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777044919\/revisions\/777044940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777044919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777044919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777044919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}