---
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)

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