Macau GGR reaches US$1.59bn in first 21 days of July

JP Morgan Securities Asia Pacific says daily average gross gaming revenue was MOP607m (US$75.4m).

Macau.- Analysts at JP Morgan Securities Asia Pacific have estimated that Macau’s gross gaming revenue (GGR) for the first 21 days of July was MOP$12.75bn (US$1.59bn) with a run-rate of MOP$607m (US$75.4m) per day. According to analysts, the GGR run-rate was MOP635m (US$78.9m) a day, higher than the MOP550m (US$68.3m) a day recorded in the first week of the month.

Analysts DS Kim, Mufan Shi and Selina Li maintain their forecasts for Macau’s GGR for July to reach MOP18.5bn (US$2.3bn), which would represent 76 per cent of the same month in 2019. JP Morgan projects that mass GGR month-to-date is approximately 110 per cent of the level before Covid-19, whereas VIP is running at around 25 per cent.

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.

See also: CreditSights expects Macau GGR to reach US$28bn this year