Macau daily GGR could reach US$50m during Labour Day break

Macau’s daily gross gaming revenue (GGR) during the third week of April was MOP292m, up 9 per cent from March.

Macau.- According to Ambrose So Shu Fai, vice-chairman of Macau casino operator SJM Holdings Ltd, Macau’s daily GGR could reach MOP400m (US$50m) during the Labour Day break.

JP Morgan Securities has stated that a daily GGR between MOP400m and MOP500m would be a success.

The Macao Government Tourism Office (MGTO) hopes Macau may see a hotel occupancy rate between 70 per cent to 80 per cent, while airlines are increasing their frequencies to Macau.

While Macau visitor numbers continue to improve ahead of the Labour Day break, but casino revenues remain down severely.

For April, Macau registered daily gross gaming revenue of MOP292m during the third week of the month, down 64 per cent from 2019 levels but up 9 per cent from March of this year.

Bernstein predicted that Macau’s final GGR for April could be up 4 per cent from March and that revenue should continue to increase during the second half of the year 2021.

Fitch Ratings Inc has said that Macau’s economy could rebound by 53 per cent this year.