JPMorgan cuts Macau October casino revenue growth forecast to 3%-6%
JPMorgan lowered its forecast for Macau gross gaming revenue growth in October 2025 to 3%-6% year on year, from more than 11%. Its analysts described weaker-than-expected Golden Week sales as a temporary setback and cited weather disruption and softer mass-market activity as possible factors. The bank also cut its fourth-quarter growth estimate to 9%, from 13%.
Macau operators can use the revised estimates to assess near-term revenue and earnings expectations.