Macau GGR reaches US$1.26bn in first 17 days of November, analysts say

Bank of America says daily average gross gaming revenue was MO594m (US$74.4m).

Macau.- Analysts at Bank of America have estimated that Macau’s gross gaming revenue (GGR) for the first 17 days of November was MOP10.1bn (US$1.26bn). The estimated run rate was MO594m (US$74.4m) a day.

Analysts said that, despite a typhoon and the Grand Prix, which typically shifts focus away from gaming, the average daily revenue (ADR) for the week from November 11 to 17 was MOP630m ($78.9m), up by 9.52 per cent from MOP570m (US$71.4m) during the initial ten days of the month.

November’s GGR is expected to reach MOP18bn (US$2.25bn), up 12 per cent in year-on-year terms due to a relatively low baseline last year. GGR for October was MOP20.79bn (US$2.60bn), an increase of 6.6 per cent year-on-year and 20.5 per cent compared to the previous month. It was the city’s best monthly performance since January 2020 (MOP22.13bn).

Government forecasts $29.7bn in revenue for 2025

Macau’s government has forecast MOP240bn (US$29.7bn) in gross gaming revenue for 2025. That compares to MOP216bn budgeted for this year. The estimation is part of the financial-year 2025 budget plan, which has been submitted to the Legislative Assembly.

The proposed budget for 2025 anticipates overall revenue of MOP121.09bn (US$15bn) and expenditures of MOP113.38bn (US$14.1bn), resulting in a projected budget surplus of MOP7.7bn ($954m).

The Office of the Chief Executive said it expects a continuous rise in inbound tourist volume. The chief executive office added: “Considering all factors, the fiscal year 2025 gross gaming revenue is estimated to reach MOP240bn. Such is the principal fiscal income that serves as a foundation for the Macau Special Administrative Government in formulating the fiscal year 2025 budget plan.”

See also: Macau CE says casino revenue target for 2025 is “definitely achievable”