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<Research>JPM Continues to Forecast MO May GGR to Grow 2-4% YoY; GALAXY ENT Sector Top Pick
Based on industry checks, Macau's GGR for the first 25 days of May whopped MOP17.9 billion, implying average daily GGR of MOP716 million, JP Morgan said in its report. Average ...
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<Research>JPM Continues to Forecast MO May GGR to Grow 2-4% YoY; GALAXY ENT Sector Top Pick
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Based on industry checks, Macau's GGR for the first 25 days of May whopped MOP17.9 billion, implying average daily GGR of MOP716 million, JP Morgan said in its report. Average daily GGR last week sank about 5% WoW to MOP656 million, in line. The broker continued to forecast May GGR to grow 2-4% YoY, with growth in June and July expected to stabilize thereafter.

Although Macau gaming stocks delivered better-than-expected results in 1Q, the sector has still seen a pullback. The broker believed that the entry threshold for buying gaming stocks is now very low, but the sector has yet to bottom out, as the market is pricing in a visible slowdown in GGR in the coming months in advance.

Related News JPM: Macau May GGR Beats; Short-term Still in Growth Lull, GALAXY ENT (00027.HK) Top Pick
In JP Morgan's view, investors need not rush to buy and a Neutral/ Selective stance was upheld on the sector. For investors focusing on medium-term opportunities, yield plays such as GALAXY ENT (00027.HK)  -0.260 (-0.809%)    Short selling $37.76M; Ratio 27.218%   , WYNN MACAU (01128.HK)  -0.010 (-0.168%)    Short selling $9.40M; Ratio 18.616%   and SANDS CHINA LTD (01928.HK)  -0.100 (-0.624%)    Short selling $26.81M; Ratio 27.836%   offer value.

The top pick order remains GALAXY ENT, SANDS CHINA LTD, WYNN MACAU, MGM CHINA (02282.HK)  -0.120 (-1.020%)    Short selling $9.94M; Ratio 31.718%   , Melco Resorts & Entertainment Limited (MLCO.US)      , MELCO INT'L DEV (00200.HK)  +0.110 (+2.887%)    Short selling $3.09M; Ratio 22.771%   and SJM HOLDINGS (00880.HK)  -0.020 (-1.042%)    Short selling $2.17M; Ratio 58.030%   .

Stocks | Investment Ratings | TPs
GALAXY ENT (00027.HK)  -0.260 (-0.809%)    Short selling $37.76M; Ratio 27.218%   | Overweight | HKD52
SANDS CHINA LTD (01928.HK)  -0.100 (-0.624%)    Short selling $26.81M; Ratio 27.836%   | Overweight | HKD22
WYNN MACAU (01128.HK)  -0.010 (-0.168%)    Short selling $9.40M; Ratio 18.616%   | Overweight | HKD7.5
MGM CHINA (02282.HK)  -0.120 (-1.020%)    Short selling $9.94M; Ratio 31.718%   | Neutral | HKD13.2
Melco Resorts & Entertainment Limited (MLCO.US)      | Neutral | USD6
SJM HOLDINGS (00880.HK)  -0.020 (-1.042%)    Short selling $2.17M; Ratio 58.030%   | Underweight | HKD2
MELCO INT'L DEV (00200.HK)  +0.110 (+2.887%)    Short selling $3.09M; Ratio 22.771%   | Underweight | HKD3.5
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-04 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

Related News M Stanley Expects Macau Jun GGR to Fall 1% YoY to MOP20.8B; Bullish on WYNN MACAU (01128.HK) and SANDS CHINA LTD (01928.HK)

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