Macau’s gaming operators could generate a new post-pandemic high for gaming revenues in December following a stronger than expected result in November, according to investment bank JP Morgan.
In a note following release of the November figures on Monday, which saw GGR grow by 14.4% year-on-year to MOP$21.1 billion (US$2.63 billion), JP Morgan’s DS Kim, Selina Li and Lindsey Qian said they are modelling 15% year-on-year growth in December but added they would not be surprised to see growth exceed 20% above the MOP$18.2 billion (US$2.27 billion) recorded in December 2024, “likely wrapping up 2025 with the year’s strongest print”.
This would also see 4Q25 GGR up by between 5% and 6% quarter-on-quarter, marking the best quarter in six years.
