Macau GGR may reach 60 per cent of 2019 levels by June, analysts say

Analysts at Morgan Stanley predict February’s gross gaming revenue will reach MOP11.2bn.

Macau.- Morgan Stanley has predicted that Macau’s monthly gross gaming revenue will reach 60 per cent of 2019 levels by June, with a year-on-year increase of 500 per cent. 

It believes that mass revenue during the Chinese New Year holiday recovered to 72 per cent of the 2019 levels, driven by strong demand from grind and premium mass segments. It estimates that February gross gaming revenue will reach MOP 11.2bn, with a daily average of MOP 400mn – a 44 per cent year-on-year increase. That would be 44 per cent of February 2019 revenue.

In January, Macau reported gross gaming revenue of MOP11.6bn (US$1.4bn), a year-on-year rise of 82.5 per cent. That’s the best monthly performance since January 2020 – before the Covid-19 pandemic. According to analysts, 15 per cent of gaming revenue in January came from VIP segments.

Macau received 451,047 visitors during the seven-day Chinese New Year holiday period between January 21 and 27, according to the Macau Government Tourism Office (MGTO).

For full-year 2022, Macau’s casino GGR decreased by 51.4 per cent compared with 2021 to MOP42.19bn (US$5.25bn). That’s just 14 per cent of pre-pandemic 2019 and the lowest yearly figure since 2004.