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<Research>Barclays Raises MO 2025 GGR Forecast by 6% on Stock Mkt Wealth Effect/ Tourist Safety Considerations; GALAXY ENT & MGM CHINA Mkt Shr Expanded
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Barclays released on Tuesday (16th) a report raising its forecast for Macau's 2025 GGR by 6% to MOP246 billion (USD31 billion) in light of strong growth momentum, robust visitor arrivals, and an improved macro environment. Macau's gaming industry has been picking up since 2Q25, with industry GGR reaching MOP163 billion in 8M25, up 7.2% YoY. On a QoQ basis, VIP room GGR grew by 12.9% in 2Q25, higher than a 3.7% growth in mass GGR, which the broker attributed to relaxed visa requirements, a buoyant stock market creating a wealth effect, and some tourists choosing Macau over Southeast Asian countries (such as Thailand, the Philippines, and Cambodia) due to safety considerations. Among the six major operators, GALAXY ENT (00027.HK) and MGM CHINA (02282.HK) have expanded their market share, while SJM HOLDINGS' (00880.HK) market share has fallen to 12.2% due to headwinds like satellite casino closures. AAStocks Financial News |
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