Macau GGR reaches US$1.03bn in first 14 days of July
JP Morgan Securities Asia Pacific expects Macau to generate MOP18.5bn (US$2.3bn) in gross gaming revenue this month.
Macau.- Analysts at JP Morgan Securities Asia Pacific have estimated that Macau’s gross gaming revenue (GGR) for the first 14 days of July was MOP$8.30bn (US$1.03bn). The daily run rate was up 15 per cent week-on-week from MOP550m to MOP593m.
Analysts DS Kim, Mufan Shi and Selina Li expect casino revenue to gradually increase following the recent conclusion of the UEFA European Championship For the mass market, the current level is between 105 and 110 per cent of pre-Covid-19 levels, while the VIP segment is between the low and mid-20 per cent range.
The analysts said: “This is a little softer than the trends in Q2, but this is a weekly trend that can be very volatile either way and we wouldn’t read too much into the print just yet.”
They expect Macau’s GGR for July to reach MOP18.5bn (US$2.3bn), a figure slightly below the original forecast of MOP19bn due to a “slower start to the month.”
In June, GGR was MOP17.69bn (US$2.20bn), up 16.4 per cent year-on-year but down 12.4 per cent month-on-month. Cumulatively, Macau’s GGR for the half of 2024 was MOP113.8bn (US$14.20bn), up 41.9 per cent year-on-year but 23.9 per cent below the same period in 2019.
