--- title: "\"Big Banks\" JP Morgan: Macau's February gaming revenue is mixed; slightly adjusts monthly forecast; preferred is Galaxy Entertainment" description: "JP Morgan released a report stating that Macau's gaming revenue in February showed mixed performance, with total revenue of MOP 14.3 billion for the first 22 days, averaging MOP 650 million per day. T" type: "news" locale: "en" url: "https://longbridge.com/en/news/276678175.md" published_at: "2026-02-24T03:02:57.000Z" --- # "Big Banks" JP Morgan: Macau's February gaming revenue is mixed; slightly adjusts monthly forecast; preferred is Galaxy Entertainment > JP Morgan released a report stating that Macau's gaming revenue in February showed mixed performance, with total revenue of MOP 14.3 billion for the first 22 days, averaging MOP 650 million per day. The performance was weak at the beginning of the holiday, but then the average daily revenue rebounded to MOP 1.2 billion, a year-on-year growth of 10%-15%. The bank has slightly adjusted its February gaming revenue forecast to flat to a 2% increase. The preferred stock is Galaxy Entertainment, followed by MGM China, and investors are advised to pay attention to the risks and valuations of individual stocks JP Morgan published a research report indicating that, according to its verification, the total gaming revenue in Macau for the first 22 days of February was MOP 14.3 billion, averaging MOP 650 million per day. Last week's average daily revenue, which included the quiet and peak periods of the Lunar New Year holiday, was MOP 785 million, lower than the bank's expectation of MOP 850 million. The bank stated that the performance at the beginning of the holiday was sluggish, with an average daily revenue of about MOP 450 million for the first 4 to 5 days, recording a double-digit year-on-year decline. However, starting from the 6th day, activity surged, with daily gaming revenue exceeding MOP 1.2 billion, indicating a year-on-year growth of 10% to 15%. The holiday is not yet over, and the next few days are crucial; the "post-holiday demand" phase typically sees high-end players accelerating their spending. The bank will have a comprehensive understanding of the situation after obtaining full-month data over the weekend. In light of the mixed performance during the Lunar New Year, the bank has slightly adjusted its total gaming revenue forecast for February to be flat to a 2% increase year-on-year (previously forecasted to grow by 2% to 5%). Excluding seasonal and calendar factors, it is expected that total gaming revenue will grow by 12% to 13% in the first two months of 2026 (previously forecasted to grow by 13% to 14%), which aligns with the bank's and market's industry forecasts. JP Morgan updated its latest preference order for Macau gaming stocks. The top choice is Galaxy Entertainment (00027.HK), rated "Overweight"; followed by MGM China (02282.HK), also rated "Overweight"; Sands China (01928.HK) and Wynn Macau (01128.HK) follow closely behind, both rated "Overweight." Melco Resorts & Entertainment (MLCO.US) is rated "Neutral," while Melco International Development (00200.HK) and Austar International Holdings (00880.HK) are both rated "Underweight." The bank advises investors to maintain selectivity in the Macau market, focusing on the consensus risks and valuation levels of individual stocks, rather than waiting for a broad revaluation ### Related Stocks - [00027.HK - GALAXY ENT](https://longbridge.com/en/quote/00027.HK.md) - [MGM.US - MGM Resorts](https://longbridge.com/en/quote/MGM.US.md) - [BETZ.US - Roundhill Sports Betting & iGaming ETF](https://longbridge.com/en/quote/BETZ.US.md) - [BJK.US - VanEck Gaming ETF](https://longbridge.com/en/quote/BJK.US.md) - [02282.HK - MGM CHINA](https://longbridge.com/en/quote/02282.HK.md) - [GXYYY.US - Galaxy Entertainment Group](https://longbridge.com/en/quote/GXYYY.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 随着数字博彩的增长抵消了不断扩大的亏损，凯撒娱乐（CZR）的交易价格是否接近其公允价值？ | 凯撒娱乐公司报告了 2025 年第四季度和全年业绩，第四季度收入 modest 增长至 29.2 亿美元，全年收入为 114.9 亿美元，但第四季度净亏损扩大至 2.5 亿美元，2025 年净亏损为 5.02 亿美元。该公司正专注于数字博彩 | [Link](https://longbridge.com/en/news/276576585.md) | | 预测博彩热潮导致赌博巨头市值蒸发 190 亿英镑 | 加密货币预测博彩的兴起导致主要博彩公司损失 190 亿英镑，包括 Flutter、DraftKings 和 Entain。Flutter 的股价在 2026 年下跌超过 40%，市值损失近 160 亿美元。分析师将这一下降归因于对预测市场的 | [Link](https://longbridge.com/en/news/276363830.md) | | Bragg Gaming 第四季度的收入增长未能达到预期 | Bragg Gaming 的初步第四季度收入同比增长 1.8%，未能达到分析师的预期。高利润率的专有内容收入在第四季度激增 70%，主要得益于美国市场的增长。对于 2026 年，Bragg 预计收入将在 9700 万欧元至 1.045 亿欧 | [Link](https://longbridge.com/en/news/276610840.md) | | DraftKings 投资者日：分析师认为总可用市场（TAM）有增长潜力，并关注 2028 财年的预测更新 | DraftKings 的股价下跌 1.82%，至 21.91 美元，因为公司正在为 3 月 2 日的投资者日做准备，届时管理层可能会更新 2028 财年的收入和 EBITDA 指引。来自美银证券的分析师 Shaun C. 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