--- title: "JPM: Entry Point for Macau Casino Stocks Still Not Attractive; Maintains \"Selective\" Investment Strategy, Top Pick GALAXY ENT" type: "News" locale: "en" url: "https://longbridge.com/en/news/292566646.md" description: "JPMorgan maintains a 'selective' investment strategy for Macau casino stocks, citing weak underlying demand and an unattractive entry point despite a 25% YTD correction. The broker expects better positioning opportunities by September. Galaxy Entertainment remains the top pick due to its Phase 4 project value, followed by Sands China and Wynn Macau. JPM downgraded Melco International Development and SJM Holdings to Underweight." datetime: "2026-07-14T04:40:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292566646.md) - [en](https://longbridge.com/en/news/292566646.md) - [zh-HK](https://longbridge.com/zh-HK/news/292566646.md) generator: "portal-rs" --- # JPM: Entry Point for Macau Casino Stocks Still Not Attractive; Maintains "Selective" Investment Strategy, Top Pick GALAXY ENT JPM released a research report stating that Macau casino stocks have corrected 25% so far this year, compared with a 5% decline in the HSI over the same period. However, the broker believes the current entry point is still not attractive enough and therefore maintains a "selective" investment strategy. The broker noted that due to the drag from the World Cup outweighing favorable seasonal factors, underlying demand remains weak and is below June levels. Short-term data flow remains soft, while 2Q25 results may trigger downward revisions to market forecasts and broadly pessimistic commentary. The broker expects a better positioning opportunity to emerge by September as the comparison base eases and the market may capture more positive catalysts, such as a potential increase in dividend payout ratio by GALAXY ENT (00027.HK) -0.020 (-0.065%) Short selling $237.51M; Ratio 48.047% in its interim results. For investors willing to look through volatility and focus on medium-term opportunities, the broker believes GALAXY ENT (00027.HK) -0.020 (-0.065%) Short selling $237.51M; Ratio 48.047% remains a worthwhile holding and its top pick, as the Phase 4 project scheduled to open next year carries value not yet reflected in its model. JPM maintained its preference ranking for gaming stocks in the following order: GALAXY ENT (00027.HK) -0.020 (-0.065%) Short selling $237.51M; Ratio 48.047% (rated Overweight) -> SANDS CHINA LTD (01928.HK) -0.180 (-1.362%) Short selling $33.31M; Ratio 18.839% and WYNN MACAU (01128.HK) -0.090 (-1.737%) Short selling $8.92M; Ratio 42.511% (both tied with Overweight ratings) -> MGM CHINA (02282.HK) +0.010 (+0.098%) Short selling $24.43M; Ratio 56.784% and Melco Resorts & Entertainment Limited (MLCO.US) (both tied with Neutral ratings) -> MELCO INT'L DEV (00200.HK) -0.120 (-3.604%) Short selling $2.13M; Ratio 34.474% (rated Underweight) -> SJM HOLDINGS (00880.HK) -0.040 (-2.649%) Short selling $6.56M; Ratio 40.667% (rated Underweight). (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-13 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.) ### Related Stocks - [01928.HK](https://longbridge.com/en/quote/01928.HK.md) - [01128.HK](https://longbridge.com/en/quote/01128.HK.md) - [SCHYY.US](https://longbridge.com/en/quote/SCHYY.US.md) - [00027.HK](https://longbridge.com/en/quote/00027.HK.md) - [00880.HK](https://longbridge.com/en/quote/00880.HK.md) - [00200.HK](https://longbridge.com/en/quote/00200.HK.md) - [GXYYY.US](https://longbridge.com/en/quote/GXYYY.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [02282.HK](https://longbridge.com/en/quote/02282.HK.md) - [MLCO.US](https://longbridge.com/en/quote/MLCO.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) ## Related News & Research - [Jefferies: Macau GGR Up 4% YoY in First Six Days of Sep, Lower Than Aug; Neutral on Macau Casino Stocks](https://longbridge.com/en/news/298387123.md) - [Huatai Securities Keeps Their Buy Rating on Sands China (SCHYF)](https://longbridge.com/en/news/298788753.md) - [3 stocks to buy and hold even if there's a stock market sell-off in September](https://longbridge.com/en/news/298828789.md) - [SUI: Revenue up 7.4% and interim dividend up 7.6%, driven by online and casino growth](https://longbridge.com/en/news/298200433.md) - [PONS's retrospective: Speculation is gambling on luck; investment is waiting for clear results.](https://longbridge.com/en/news/298385107.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**