JP Morgan has presented a positive outlook for Macau’s gaming revenue by the end of the year, estimating that the gross gaming revenue (GGR) in December will reach MOP 17 billion ($2.1 billion).

JP Morgan has presented a positive outlook for Macau's gaming revenue by the end of the year, estimating that the gross gaming revenue (GGR) in December will range from MOP17.5 billion ($2.1 billion) to MOP18 billion ($2.2 billion). This projection indicates a return to 80 percent of the pre-pandemic level.

Former JP Morgan Malaysia equity research head Ng Keng Luen has been appointed chief strategy officer of RGB International Bhd.

J.P. Morgan said it has raised its FY21 estimate for Star Entertainment Group's EBITDA by 10.7 percent due to stronger revenue from Queensland and better margins. However, it has downgraded the stock from overweight to neutral with a price target of A$3.50.

JP Morgan says that the surprising resumption of dividends by Macau gaming operators MGM and Wynn, the first since COVID-19, signals meaningful and sustainable cash returns ahead, with accelerating profit flow-through from ongoing demand recovery.

After observing robust Chinese New Year (CNY) casino revenue, analysts from JP Morgan expect Macau's February gross gaming revenue to increase by 80 percent from the previous year to MOP19 billion ($2.36 billion).

Analysts from JP Morgan indicate that Wynn Macau’s 4Q23 EBITDA margin was near its 10-year highs thanks to 'strong cost control and growth in mass.’

Mass market gross gaming revenue generated in Macau gaming in January is reporting volumes 105-110 percent higher than pre-COVID levels, brokerage JP Morgan indicated.

According to a mid-month update, the investment bank JP Morgan confirms that Macau’s gross gaming revenue (GGR) had a solid performance, beating seasonality.

The latest investment memo from JP Morgan reveals that Macau's gross gaming revenue (GGR) from the mass segment has surpassed pre-COVID benchmarks for the first time, reaching 105 percent of the October 2019 levels.