Macau GGR reaches estimated US$1.11bn in first 17 days of December
Analysts at JP Morgan say Macau’s casino gross gaming revenue reached a daily run-rate of MOP529m.
Macau.- JP Morgan Securities (Asia Pacific) has reported that Macau’s casino gross gaming revenue (GGR) for the first 17 days of December could have been MOP9bn (US$1.11bn). The estimated daily run-rate was MOP529m (US$65.8m), slightly lower than in November (MOP535m).
Analysts predict GGR of MOP17bn (US$2.1bn) for the full month. This would mean a daily run-rate of MOP550m (US$68.4m) and a full recovery of the mass market. This positive trajectory is expected to drive industry EBITDA to grow by 8 to 10 per cent quarter-on-quarter, surpassing the historical seasonality of 5 per cent growth quarter-on-quarter observed before the Covid-19 pandemic.
In November, Macau’s casino GGR reached MOP16.04bn (US$1.99bn). Data suggests that mass GGR reached parity with pre-Covid levels. Cumulatively, Macau’s GGR for the first eleven months of 2023 was MOP164.5bn (US$20.4bn), up 325 per cent compared to the same period in 2022.
Macau’s secretary for economy and finance, Lei Wai Nong, expressed confidence in the city’s potential to welcome around 28 million visitors by year-end, following a successful reception of over 25 million tourists in the initial 11 months of 2023.
