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<Research>JPM Expects MO Oct GGR to Rise Max. 13% YoY to Reach 6-yr High
Recommend 13 Positive 27 Negative 12 |
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Macau's GGR for the first 5 days of October was MOP5.5 billion, with an average daily GGR of approx. MOP1.1 billion, marking the best Golden Week performance in nearly five years, according to JPMorgan's research report. However, compared to last year's very high base, the YoY growth was only 3%, which is below the expectations of the broker and market. Nevertheless, the broker was not concerned about the seemingly weak growth momentum, as this year's holiday is longer, and suggested that the latter half of the Golden Week will see more sustained and stronger demand. The typhoon may further boost this trend, as it caused ferry and flight disruptions for about half a day. Therefore, JPMorgan expected GGR in the second week of October to grow mid/ high teens YoY to approx. MOP750 million per day, and maintained its full-month forecast unchanged. The broker also projected October GGR to hike by 11-13% YoY to MOP23 billion, a peak in 6 years. AASTOCKS Financial News Website: www.aastocks.com |
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