Macau casinos: GGR reaches US$2.15bn in September
GGR was up 15.5 per cent in year-on-year terms but down 12.7 per cent sequentially.
Macau.- The Gaming Inspection and Coordination Bureau has reported that Macau’s gross gaming revenue (GGR) for September 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 also down by 21.8 per cent compared to September 2019, before the Covid-19 pandemic.
According to analysts, the city’s casino and tourism sectors were disrupted by the passage of 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).
See also: Macau casinos: gaming taxes reach US$7.33bn in first 8 months of the year
Citigroup has suggested that GGR for October may reach MOP20.5bn (US$2.56bn). That’s an increase of 5 per cent in year-on-year terms and 19 per cent sequentially. The report highlights optimistic expectations for the National Day Golden Week, with GGR anticipated to average around MOP900m (US$112m) per day during the holiday period, aligning closely with the run rates observed during this year’s Chinese New Year and Labor Day holidays.
Seaport Research Partners has forecast that Macau’s GGR will grow by 26 per cent year-on-year in 2024 and by 10 per cent in 2025 while CreditSights, a division of the Fitch Group, has predicted that Macau’s GGR will reach around US$28bn this year, a 24 per cent year-over-year increase and 75-80 per cent of 2019 levels.
