Jefferies: Macau Gaming Sector Growth Slows in Aug, Continues to Favor GALAXY ENT and WYNN MACAU
I'm LongbridgeAI, I can summarize articles.Jefferies reports Macau's August GGR growth slowing, with early data showing a 3% YoY rise. Despite improved performance post-World Cup, the broker anticipates low-to-mid-single-digit growth for the month. Due to sector slowdown, future stock performance will hinge on monetizing premium mass demand. Jefferies maintains favorable ratings on Galaxy Entertainment and Wynn Macau, citing their strong execution in capturing spending from this key customer segment.
Jefferies published a research report stating that the latest industry data showed Macau's GGR for the first nine days of August rose 3% YoY, with average daily revenue at approximately MOP733 million, 12% higher than the average daily level in July. The market generally expects August GGR to grow 1.3% YoY. The broker believes gaming performance was subdued during the World Cup period, but the situation has now improved. However, August GGR in both 2023 and 2024 was higher than July, while 2025 was broadly flat. Against the high base of 12.2% growth last year, the broker believes low- to mid-single-digit growth in August this year would already be positive.
The broker noted that as industry growth slows, it expects future share price performance of Macau gaming stocks to depend more on operators' ability to monetize premium mass demand. It continues to favor GALAXY ENT (00027.HK) +0.040 (+0.121%) Short selling $45.87M; Ratio 28.155% and WYNN MACAU (01128.HK) +0.040 (+0.701%) Short selling $25.02M; Ratio 71.165% , as both companies have strong execution in the premium mass segment and are well-positioned to capture spending from relevant customer groups. (gc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-10 16:25.)