---
title: "UBS: Macau's average daily gaming revenue during the Spring Festival holiday fell short of expectations, with Melco Resorts, WYNN MACAU, and MGM CHINA as top picks"
description: "The UBS research report shows that during the Spring Festival holiday, Macau's average daily gaming revenue was approximately MOP 786 million, lower than the market expectation of MOP 900 million to M"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276672761.md"
published_at: "2026-02-24T02:04:51.000Z"
---

# UBS: Macau's average daily gaming revenue during the Spring Festival holiday fell short of expectations, with Melco Resorts, WYNN MACAU, and MGM CHINA as top picks

> The UBS research report shows that during the Spring Festival holiday, Macau's average daily gaming revenue was approximately MOP 786 million, lower than the market expectation of MOP 900 million to MOP 950 million. Despite weak initial demand, the transaction volume accelerated in the last three days of the holiday, reaching an average of MOP 1.2 billion to MOP 1.3 billion per day. UBS's top picks are Melco Resorts & Entertainment, WYNN MACAU, and MGM CHINA as industry favorites, along with corresponding investment ratings and target prices

According to a research report by UBS, based on its channel survey, the average daily gaming revenue in Macau during the Spring Festival holiday (February 16 to 22) was approximately MOP 786 million, lower than the market forecast of about MOP 900 million to 950 million per day. Although initial demand was weak, the transaction volume accelerated in the last three days (February 20 to 22), reaching MOP 1.2 billion to 1.3 billion per day, an increase of about 10% to 15% year-on-year, bringing the average daily gaming revenue for this month to about MOP 650 million, but still down about 8% year-on-year and about 11% month-on-month.

UBS indicated that among various market segments, the average daily transaction volume for mass gaming revenue decreased by 10% to 12% month-on-month, while VIP room transaction volume fell by 8% to 10% month-on-month; the VIP room win rate was between 2.6% and 2.9%; and the demand after the Spring Festival holiday (i.e., this week) will determine the overall performance for the month; however, to achieve the market forecast (i.e., monthly gaming revenue of about MOP 740 million, a year-on-year increase of about 5%), it is challenging to reach daily gaming revenue of MOP 1.1 billion in the remaining 6 days.

UBS's top picks are Melco Resorts & Entertainment (MLCO.US), Wynn Macau (01128.HK), and MGM China (02282.HK) as industry favorites. Below are UBS's ratings and target prices for gaming stocks:

Stock | Investment Rating | Target Price

\----------------------------------------------------------

Melco Resorts & Entertainment (MLCO.US) | Buy | $9.5

Wynn Macau (01128.HK) | Buy | MOP 8.9

MGM China (02282.HK) | Buy | MOP 18.5

Galaxy Entertainment (00027.HK) | Buy | MOP 46.9

Sands China (01928.HK) | Neutral | MOP 22.4

Melco International Development (00200.HK) | Neutral | MOP 5.5

Amax Holdings (00880.HK) | Sell | MOP 2.5

### Related Stocks

- [02282.HK - MGM CHINA](https://longbridge.com/en/quote/02282.HK.md)
- [01128.HK - WYNN MACAU](https://longbridge.com/en/quote/01128.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| MGM China's Revenue Climbs in Q3 | MGM China's Revenue Climbs in Q3 | [Link](https://longbridge.com/en/news/263410621.md) |
| MGM China's Revenue Rises in Q4 2025 | MGM China's Revenue Rises in Q4 2025 | [Link](https://longbridge.com/en/news/274914645.md) |
| China recorded a total of 171,000 flights during Spring Festival holiday - CCTV | China recorded a total of 171,000 flights during Spring Festival holiday - CCTV | [Link](https://longbridge.com/en/news/276687156.md) |
| China records an increase of 11.5% passenger trips on railway during Spring Festival holiday compared with the same period last year - CCTV | China records an increase of 11.5% passenger trips on railway during Spring Festival holiday compared with the same peri | [Link](https://longbridge.com/en/news/276675541.md) |
| Research Alert: CFRA Maintains Buy Opinion On Shares Of Wynn Resorts | CFRA maintains a Buy opinion on Wynn Resorts (WYNN) with a 12-month price target of $155, based on a 10.3x adjusted EBIT | [Link](https://longbridge.com/en/news/276146633.md) |

---

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