Published on: February 5, 2026, 12:49h.
Updated on: February 5, 2026, 12:49h.
- Macau gaming stocks typically surge before the Chinese Lunar New Year
- Market analyst projects growth for Las Vegas Sands and Wynn in Macau
- Macau’s GGR predictions seen as overly cautious
With the upcoming Chinese Lunar New Year celebrations, which historically boost Macau’s casino stock values, two major players in the market have attracted positive remarks from financial analysts.
In a report shared with clients on Thursday, Macquarie analyst Chad Beynon underscored that Macau stands out as the second most appealing gaming market for investors this year. He suggests that the gross gaming revenue (GGR) forecasts in this unique Chinese territory where gambling is permitted are likely too conservative.
“Revenue for 2025 increased by 9% year-over-year, surpassing initial GGR expectations of 6%, bolstered by a robust second half (+13%),” remarked the analyst. “We now project GGR for 2026 to be +8% (down 9% compared to ’19), slightly above the consensus, anticipating market share expansions for Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN).”
Las Vegas Sands and Wynn Resorts operate Sands China and Wynn Macau, respectively, managing a total of seven casino hotels within the special administrative region (SAR). Beynon currently rates both companies as “outperform,” establishing a price target of $70 for Sands and a $155 forecast for Wynn.
Sands Outlook Remains Positive
Recently, shares of Las Vegas Sands faced a decline after the parent company of Sands China presented underwhelming fourth-quarter results from Macau, overshadowing what was likely a record-breaking quarter for the gaming sector at Marina Bay Sands in Singapore.
Beynon is optimistic about Sands’ potential in Macau, where it operates five integrated resorts. Sands China enjoys the largest market presence in Macau, primarily targeting mass and premium segments, suggesting it could benefit from an increase in visitors during the Lunar New Year festivities. This is a short-term event, but there are compelling long-term incentives for investors to consider the stock.
“In Macau, LVS is strategically positioned, thanks to recent investments that are expected to drive market share gains in 2026, coupled with industry market share of approximately 25% and leading margins,” Beynon noted. “Shareholder returns through dividends and buybacks continue to be a strong aspect of the LVS narrative.”
Recently, the gaming firm repurchased $500 million worth of its shares in the fourth quarter, and a previously announced dividend hike will be effective this month.
Wynn Poised for Success
Wynn is flourishing in Las Vegas, and Beynon anticipates that the operator will gain market share in Macau this year. If this forecast holds true, it could positively influence share prices, as Wynn Macau caters to a clientele that includes affluent patrons and VIPs.
“We continue to favor Wynn’s luxury and premium approach both domestically and in Macau, where growth remains centered on upper-tier customer segments,” stated Beynon. “We have increased confidence in the trends emerging from Macau given the recent GGR data and expect Wynn to capture market share in 2026.”
The analyst also mentioned that Wynn’s UAE casino, anticipated to open next year, is underestimated by many investors and could enhance the share price by $25 to $50.