Deutsche Bank raises Macau GGR forecast by 3.3%

Analysts have revised their GGR estimations due to the easing of travel restrictions.

Macau.- Deutsche Bank Securities has revised its estimate for Macau’s 2023 casino gross gaming revenue (GGR) by 3.3 per cent. The move follows the easing of travel restrictions for mainland China, Macau and Hong Kong.

The new forecast is 2023 GGR of just over US$20.6bn. That compares to an earlier prediction of US$19.9bn made in November 2021.

Deutsche Bank’s updated forecast predicts a 28 per cent higher GGR than the Macau government’s own forecast. The aggregate Macau GGR for the first two months of this year is already 51.9 per cent of the 2022 total.

See also: Macau chief remains confident in 2023 GGR target

The Gaming Inspection and Coordination Bureau (DICJ) has reported that Macau’s casinos generated MOP10.32bn (US$1.27bn) in GGR in February. That’s an increase of 33.1 per cent year-on-year but down 11 per cent when compared to January.

For full-year 2022, Macau’s casino GGR decreased by 51.4 per cent compared with 2021 to MOP42.19bn (US$5.25bn). That’s just 14 per cent of pre-pandemic 2019 and the lowest yearly figure since 2004.