---
title: "\"Big Banks\" UBS: Macau's November gaming revenue exceeds expectations, likely to have upward adjustment space for December market forecasts"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/268175069.md"
description: "UBS report indicates that Macau's gaming revenue in November was approximately MOP 21.1 billion, a year-on-year increase of 14%, but a decrease of 12% compared to October. The average daily gaming revenue was MOP 703 million, exceeding market expectations. UBS believes there is room for upward adjustment in the market forecast for December, expecting an average daily revenue of MOP 675 million. It recommends buying Galaxy Entertainment Group, WYNN MACAU, and MGM CHINA"
datetime: "2025-12-02T02:26:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/268175069.md)
  - [en](https://longbridge.com/en/news/268175069.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/268175069.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/268175069.md) | [繁體中文](https://longbridge.com/zh-HK/news/268175069.md)


# "Big Banks" UBS: Macau's November gaming revenue exceeds expectations, likely to have upward adjustment space for December market forecasts

UBS published a research report indicating that Macau's total gaming revenue in November reached approximately MOP 21.1 billion, a year-on-year increase of about 14%, but a decrease of about 12% compared to October. The average daily gaming revenue in November was strong, reaching approximately MOP 703 million, a month-on-month decrease of about 10%, yet still higher than the market expectation of around MOP 679 million. This is believed to be mainly driven by increased demand at the end of the month, with the average daily gaming revenue in the last week of November estimated to reach approximately MOP 784 million, higher than the approximately MOP 678 million in the first 23 days of November.

The market currently predicts that Macau's average daily gaming revenue in December will reach approximately MOP 675 million, a year-on-year increase of about 15%, but a month-on-month decrease of about 4%. UBS believes there is still room for upward adjustment in market forecasts, noting that past records show a month-on-month increase of about 1% during the same period from 2015 to 2019. Current top picks include Galaxy Entertainment (00027.HK), WYNN MACAU (01128.HK), and MGM CHINA (02282.HK), all rated as "Buy."

### Related Stocks

- [WYNN MACAU (01128.HK)](https://longbridge.com/en/quote/01128.HK.md)
- [MGM CHINA (02282.HK)](https://longbridge.com/en/quote/02282.HK.md)
- [Galaxy Entertainment Group Limited (GXYYY.US)](https://longbridge.com/en/quote/GXYYY.US.md)
- [GALAXY ENT (00027.HK)](https://longbridge.com/en/quote/00027.HK.md)

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