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<Research>JPM Expects MO 2Q25 GGR to Grow 2-3%; Top Pick MGM CHINA
Macau's GGR for the first 18 days of May reached MOP12.7 billion, reflecting an average daily GGR of MOP592 million over the past week, up 3% WoW, according to a JPMorgan repor...
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<Research>JPM Expects MO 2Q25 GGR to Grow 2-3%; Top Pick MGM CHINA
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Macau's GGR for the first 18 days of May reached MOP12.7 billion, reflecting an average daily GGR of MOP592 million over the past week, up 3% WoW, according to a JPMorgan report.

Assuming GGR to average MOP580-620 million per day for the remainder of May, the total monthly GGR could reach MOP20-21 billion, which would be flat or up 3% YoY. If April's outstanding performance is factored in, 2Q25 GGR growth could reach 2-3%, compared to the market consensus of a flat YoY growth.

Related NewsCiti Keeps MO May GGR Forecast at MOP21B
JPMorgan named MGM CHINA (02282.HK)  -0.040 (-0.364%)    Short selling $4.14M; Ratio 20.595%   as its top pick over the next 3-6 months, given the company's robust earnings performance, attractive valuation, and superior yield. The target price was set at HKD13.5 with an Overweight rating.

For the 6-18 month horizon, the broker preferred GALAXY ENT (00027.HK)  +0.050 (+0.159%)    Short selling $184.67M; Ratio 39.463%   instead owing to the company's valuation and medium-term growth potential. The target price was HKD37 with an Overweight rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-22 16:25.)

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