---
title: "JP Morgan expects Macau's gaming gross revenue to exceed 23 billion patacas this month, reaching a six-year high, with a preference for Galaxy Entertainment and Sands China"
description: "JP Morgan predicts that Macau's gross gaming revenue in October will exceed MOP 23 billion, reaching a six-year high, with an annual increase of 11% to 13%. The gross gaming revenue in September was M"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/259844510.md"
published_at: "2025-10-03T02:49:28.000Z"
---

# JP Morgan expects Macau's gaming gross revenue to exceed 23 billion patacas this month, reaching a six-year high, with a preference for Galaxy Entertainment and Sands China

> JP Morgan predicts that Macau's gross gaming revenue in October will exceed MOP 23 billion, reaching a six-year high, with an annual increase of 11% to 13%. The gross gaming revenue in September was MOP 18.3 billion, below expectations, reduced by 5% to 10% due to the impact of the typhoon. It is expected that the average daily gross gaming revenue during the National Day Golden Week will reach MOP 1.1 billion, close to pre-pandemic levels. The bank prefers Galaxy Entertainment Group and Sands China, giving them overweight ratings, with target prices of MOP 24.5 and MOP 54, respectively

JP Morgan's report indicates that Macau's gross gaming revenue in September increased by 6% year-on-year to MOP 18.3 billion, lower than the market's expected growth of 9%. Last month, the impact of the super typhoon "Haikui" caused temporary casino closures and widespread flight and train cancellations, estimating that the typhoon led to a monthly gross gaming revenue reduction of 5% to 10%, meaning that Macau's gross gaming revenue last month should have recorded double-digit year-on-year growth without the typhoon's impact.

The bank predicts that during the first five days of the "Golden Week" in October, Macau's average daily gross gaming revenue will exceed MOP 1.1 billion, compared to MOP 1.08 billion last year, and may catch up to pre-pandemic levels of MOP 1.16 billion. The bank expects that demand at the end of this year may be more persistent and strong, driving Macau's gross gaming revenue in the second week of October to an average of MOP 750 million to MOP 760 million, compared to MOP 643 million last year. In the first two weeks, Macau's gross gaming revenue is expected to reach an average of MOP 930 million, compared to MOP 846 million last year, with the total monthly gross gaming revenue expected to increase by 11% to 13% year-on-year to over MOP 23 billion, setting a six-year high.

The bank prefers Galaxy Entertainment Group (00027.HK) and Sands China (01928.HK) among Macau gaming stocks, both rated "Overweight," with target prices of HKD 24.5 and HKD 54, respectively

### Related Stocks

- [GXYYY.US - Galaxy Entertainment Group](https://longbridge.com/en/quote/GXYYY.US.md)
- [00027.HK - GALAXY ENT](https://longbridge.com/en/quote/00027.HK.md)
- [SCHYY.US - Sands China](https://longbridge.com/en/quote/SCHYY.US.md)
- [01928.HK - SANDS CHINA LTD](https://longbridge.com/en/quote/01928.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 银河娱乐 (27.HK)：资金冲高活跃，旅游复苏预期推升高波动，分时关注获利回吐压力 | 2 月 3 日早盘，银河娱乐表现强势，一度突破布林带上轨，资金流入迅猛成为市场关注焦点。受益于港澳地区复常以及春节旅游全面复苏预期，板块资金涌入激发市场高度活跃。澳门旅游局披露的春节酒店预订高位数据推升新一轮旅客潮的乐观情绪，主力做多节奏加 | [Link](https://longbridge.com/en/news/274626047.md) |
| 早盘趋势｜金沙中国逼近底线支撑，弱势盘要迎来分歧？ | 金沙中国有限公司（1928.HK）近期股价连续走弱，技术面上已出现明显的死叉信号，整体短线形势偏空头主导。日线级别上，MACD 指标由正转负，双线下穿，量能也出现萎缩，反映多头信心动摇。从 K 线上看，股价逐步逼近阶段性底线支撑位置，5 日 | [Link](https://longbridge.com/en/news/274118494.md) |
| 金沙中国有限公司举办了第二届澳门技术创新探索活动 | 金沙中国在里斯本举办了第二届澳门科技创新探索活动，支持澳门企业家。为期五天的项目涉及来自 25 家澳门企业的 38 名代表，重点关注科技创新和行业交流。活动包括参加网络峰会、交流论坛以及专家主导的研讨会。该倡议旨在促进澳门与葡萄牙之间的合作 | [Link](https://longbridge.com/en/news/276491972.md) |
| 早盘趋势｜金沙中国逼近底线支撑，弱势盘要迎来分歧？ | 金沙中国有限公司（1928.HK）近期股价连续走弱，技术面上已出现明显的死叉信号，整体短线形势偏空头主导。日线级别上，MACD 指标由正转负，双线下穿，量能也出现萎缩，反映多头信心动摇。从 K 线上看，股价逐步逼近阶段性底线支撑位置，5 日 | [Link](https://longbridge.com/en/news/274121896.md) |
| 早盘趋势｜金沙中国逼近底线支撑，弱势盘要迎来分歧？ | 金沙中国有限公司（1928.HK）近期股价连续走弱，技术面上已出现明显的死叉信号，整体短线形势偏空头主导。日线级别上，MACD 指标由正转负，双线下穿，量能也出现萎缩，反映多头信心动摇。从 K 线上看，股价逐步逼近阶段性底线支撑位置，5 日 | [Link](https://longbridge.com/en/news/274119847.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
