Macau casinos: GGR reaches US$1.8bn in first 20 days of October, analysts say
JP Morgan Securities (Asia Pacific) says daily average gross gaming revenue was MOP$730m (US$91.1m).
Macau.- Analysts at JP Morgan Securities (Asia Pacific) have estimated that Macau’s gross gaming revenue (GGR) for the first 20 days of October was MOP14.6bn (US$1.8bn). The estimated GGR run rate was MOP$730m (US$91.1m) a day.
Analysts DS Kim, Mufan Shi and Selina Li said that the third week of the month saw a slow down following the October Golden Week holiday period. The daily run-rate was MOP514m (US$64.1m), down from MOP$846m (US$106m) in the first two weeks of the month.
October’s GGR is expected to reach MOP21bn (US$2.62bn), with a daily run rate of MOP670m (US$83.6m). That would surpass the previous market prediction of MOP20bn (US$2.49bn) to MOP21bn (US$2.61bn).
According to analysts, the mass market has reached 110 to 115 per cent of 2019 levels, while VIP GGR has recovered to around 25 per cent. Analysts suggested we shouldn’t assume this pace will continue for an entire quarter since GGR was influenced by a very strong Golden Week holiday.
In September, GGR was MOP17.25bn (US$2.15bn). The figure was up 15.5 per cent year-on-year but down 12.7 per cent compared to the previous month. It was the lowest monthly tally of the year and was down by 21.8 per cent compared to September 2019, partly due to super typhoon Yagi. Cumulatively, Macau’s GGR for the first nine months of 2024 was MOP169.3bn (US$21bn), up 31.3 per cent year-on-year but below the same period in 2019 (US$27.4bn).
VIP baccarat revenue down 1.7% sequentially in Q3
The Gaming Inspection and Coordination Bureau (DICJ) has reported that VIP baccarat gaming revenue was down 1.7 per cent quarter-on-quarter to MOP13.08bn (US$1.64bn) in the third quarter of the year. In year-on-year terms, the figure was up 11.1 per cent. The figure represented 23.5 per cent of the total gross gaming revenue (GGR) of MOP55.6bn (US$6.95bn) in the period.
Revenue from mass-market baccarat was MOP34.09bn (US$4.26bn). That’s a decline of 1.6 per cent quarter-on-quarter but a rise of 14.5 per cent year-on-year. It represented 61.3 per cent of all GGR. Slot machine revenue was MOP3.1bn (US$388m), down 2.9 per cent sequentially but up 9.3 per cent year-on-year, representing a market share of 5.6 per cent.
The city’s mass-market casino gambling segment – including slot machines – generated revenue of MOP42.52bn (US$5.31bn) in the third quarter, representing 76.5 per cent of total casino GGR.
