CreditSights expects Macau GGR to reach US$28bn this year

CreditSights expects Macau GGR to reach US$28bn this year

Analysts expect Macau’s GGR to reach 75-80 per cent of 2019 levels.

Macau.- CreditSights, a division of the Fitch Group, has predicted that Macau’s gross gaming revenue (GGR) will reach around US$28bn this year, representing a 24 per cent year-over-year increase and 75-80 per cent of 2019 levels. It sees MGM China as “the primary beneficiary of the post-Covid-19 period,” partially due to an increased allocation of table games.

“Although the GGR improvements compared to 2019 have moderated, we project incremental growth driven by slight upticks in visitation and consistent spending per visitor,” it said.

The firm has revised downwards its projections for Wynn Macau, noting that the yield difference on Wynn Macau bonds in comparison to MGM China’s has narrowed from pre-pandemic levels, despite Wynn Macau having a weaker market share and a longer journey to leverage recovery.

In June, GGR was MOP17.69bn (US$2.20bn), up 16.4 per cent year-on-year but down 12.4 per cent month-on-month. Cumulatively, Macau’s GGR for the half of 2024 was MOP113.8bn (US$14.20bn), up 41.9 per cent year-on-year but 23.9 per cent below the same period in 2019.

In the same period, the city welcomed 16.73 million visitors. The figure was up by 43.6 per cent compared to the same period last year.

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