UBS: Macau GGR Averaged MOP700M per Day in Past 7 Days, Flat YoY
I'm LongbridgeAI, I can summarize articles.UBS reports Macau's daily GGR averaged MOP700M over the past week, flat YoY but better than historical seasonal declines. Mass market and VIP segments saw slight MoM drops. June GGR is expected to decline mildly due to the World Cup and high base effects. UBS rates Melco Resorts and MGM China as 'Buy' with target prices of USD10.2 and HKD15.6 respectively.
UBS released a report stating that, based on channel checks, Macau GGR averaged about MOP700 million per day over the past seven days, flat YoY and lower than the seasonal high base of about MOP729 million per day in May. The decline was better than the average seasonal MoM drop of about 9% in June during 2015-2019.
By segment, mass market average daily revenue fell about 3-5% MoM, while VIP rolling chip volume daily run rate declined about 5-8% MoM, with VIP win rate at about 2.9-3.1%. The market expects June average daily GGR of about MOP695 million, down about 1% YoY and about 5% MoM, implying that average daily GGR for the remaining 23 days of the month needs to reach about MOP694 million.
The upcoming World Cup and high base effect are expected to lead to a mild YoY decline in GGR in June and July. The sector is currently trading at 8.4x 2026 forecast EV/EBITDA, 0.4 standard deviations below the average since 2023. The bank’s top picks are Melco Resorts & Entertainment Limited (MLCO.US) and MGM CHINA (02282.HK) -0.270 (-2.526%) Short selling $71.04M; Ratio 24.792% , with target prices of USD10.2 and HKD15.6 respectively, both rated Buy. (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-08 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)