小摩：料澳门10月博彩总收入同比升最多13% 达六年来高位

Core Insights - The report from JPMorgan indicates that Macau's total gaming revenue (GGR) for the first five days of October reached 5.5 billion MOP, with an average daily revenue of approximately 1.1 billion MOP, marking the best performance for the Golden Week in the past five years [1] - However, compared to last year's high base, the year-on-year growth is only 3%, which is below both the bank's and market expectations [1] - Visitor numbers from October 1 to 5 remained flat, further hindering GGR growth, as a typhoon caused a 25% drop in visitor numbers on October 5 [1] Revenue Forecast - Despite the seemingly weak growth momentum, the bank is not concerned, as this year's holiday is longer, suggesting that stronger demand will emerge in the latter half of the Golden Week [1] - The typhoon may actually enhance this trend, as it disrupted ferry and flight services for about half a day [1] - The bank anticipates that GGR for the second week of October will see a year-on-year growth in the mid-to-high double digits, reaching approximately 750 million MOP per day [1] - The full month forecast remains unchanged, with an expected year-on-year GGR growth of 11% to 13%, totaling 23 billion MOP, which would be the highest in six years [1]