Macau GGR for first 19 days of March reaches US$845.1m
Analysts at JP Morgan Securities have reported that Macau’s GGR reached MOP357m a day.
Macau.- Casino gross gaming revenue (GGR) in Macau for the first 19 days of March is estimated to be around MOP6.8bn (US$845.1m), or MOP357m per day, according to JP Morgan Securities (Asia Pacific). Analysts DS Kim and Mufan Shi say last week’s run rate improved to over MOP370m a day, compared to MOP350m in the first 14 days, coming back in line with the first two months of the year.
Revenue had fallen during the “Two Sessions” meetings of the National People’s Congress and the Chinese People’s Political Consultative Conference in Beijing, which were attended by businesspeople, community leaders and top officials from across China.
The current run-rate in Macau represents a 45-per cent recovery compared to pre-Covid-19 levels, indicating that mass GGR has likely recovered to 60 to 70 per cent of pre-pandemic levels, which is consistent with recent trends. In February, GGR fell by 10.8 per cent month-on-month to MOP10.32bn (US$1.27bn) but was up 33.1 per cent year-on-year.