Last weekend was the peak of the summer vacation season, and Macau's daily visitor volume broke its highest record since the outbreak, which also promoted the continued growth of gambling revenue. According to a report by JPMorgan Chase, Macau's gaming revenue in the first 8 days of August is expected to be 13 billion patacas, or an average daily gambling revenue of about 72 million patacas, an increase of 5.53% over the previous week.
JP Morgan noted that gaming revenue in Macau has gradually improved over the past seven days, reflecting the fading effects of seasonal effects and recent severe weather.The bank also said that total mass gaming revenue has returned to 7% to 90% of pre-epidemic levels, and is expected to return to 95 mass market revenue levels by October.
The bank pointed out that although the recovery performance of Macau gaming companies is strong, it has not yet been fully reflected in the stock prices of gaming stocks.Gaming stock prices have been trading regionally for the past three months, but performance has been significantly better than expected and there is room for upward earnings revisions.Additionally, the sector's valuations are quite attractive and could provide long-term investors with a buying opportunity.We believe the gaming stock market will gain even more traction as more investors return their attention to the sector.
