Home » JPMorgan: Macau’s September gross gaming revenue (GGR) recorded 2.96 billion patacas, down about 50% in the first year – DoNews

JPMorgan: Macau’s September gross gaming revenue (GGR) recorded 2.96 billion patacas, down about 50% in the first year – DoNews

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JPMorgan: Macau’s September gross gaming revenue (GGR) recorded 2.96 billion patacas, down about 50% in the first year – DoNews

JPMorgan Chase: Macau’s September gross gaming revenue (GGR) recorded 2.96 billion patacas, down about 50% in the first year

Ding Fan2022-10-03 13:31:31

DoNews October 3 news (Ding Fan) A few days ago, JPMorgan Chase released a research report that Macau’s September gross gaming revenue (GGR) recorded 2.96 billion patacas (the same below), an increase of 35% month-on-month, but still a year-on-year decrease of about 50%. 50%, which means that the average daily income is about 99 million yuan, which is only 13% of the pre-pandemic level. However, the market is more concerned about the progress of restarting individual tours and group tours in Macau.

The bank believes that the market will begin to review the pace of recovery in December. It is expected that the mass gaming revenue in December will return to 45% to 50% of the pre-epidemic level, and the total gaming revenue will be 200 million to 250 million yuan per day, including every Daily record VIP room business of 100 million to 150 million yuan, which will benefit most gaming operators (except SJM Holdings), and is expected to record positive EBITDA. The bank remains bullish on Macau’s gaming industry and believes the current equity allocation remains very favorable. The bank maintains Sands China as the industry’s top pick, believing that the group has good portfolio stability and upside potential, followed by Wynn Macau and GEG; SJM is the most bearish stock.

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