Macau casinos: daily GGR reaches US$130m in first 6 days of October
According to JP Morgan, it was the highest run-rate since the 2019 October Golden Week.
Macau.- Analysts at JP Morgan Securities have reported that Macau’s gross gaming revenue (GGR) averaged MOP1.08bn (US$130m) per day over the first six days of October, which coincided with Golden Week. According to analysts DS Kim, Mufan Shi and Selina Li, it was the highest run-rate in five years since 2019 October Golden Week, which saw MOP1.16bn per day.
The figure was almost 20 per cent higher than that of May’s Labour Day holiday season GGR (MOP910m per day). According to analysts, revenue has rebounded to 130 to 140 per cent of pre-Covid levels. Revenue from the VIP market has decreased to a range of 30 to 35 per cent but both sectors have surpassed the Q3 recovery rates of at least 110 per cent and 25 per cent, respectively.
The Macau Government Tourism Office (MGTO) reported that 916,215 tourists arrived in Macau in the first six days of the Golden Week holiday. The daily average for the first five days was 158,585, surpassing the estimate of 100,000 and marking a 37.4 per cent increase compared to the daily average during the same period in 2023. The peak was on Thursday (October 3), with 174,234 visitors. Golden Week ends today (October 7).
Citigroup reports rise in premium mass wagers in October
Citigroup has reported that premium mass wagers in Macau during October reached HK$27.2m (US$3.5m). That’s an 81 per cent increase compared to October 2023 and an 18 per cent rise from Chinese New Year 2024.
The count of premium mass participants reached a new high at 966. That’s a rise of 90 per cent in year-on-year terms. However, the average bet per player was down per cent at HK$28,150 (US$3,625), which still stands as the third-highest on record.
The survey observed 62 whales (players with bets of HK$100,000 per hand or more), up 88 per cent year-on-year and up 51 per cent when compared to the Chinese New Year 2024. Galaxy represented approximately 29 per cent of the total premium mass wager observed.
