Macau GGR reaches US$1.5m in first 19 days of January
Analysts at JP Morgan say daily average gross gaming revenue was MOP637m (US$80.1m).
Macau.- Analysts at JP Morgan have estimated that Macau’s gross gaming revenue (GGR) for the first 19 days of January was MOP12.1bn (US$1.5bn). The estimated GGR run rate was MOP637m (US$80.1m) a day.
Analysts DS Kim, Mufan Shi and Selina Li said that at this rate, January’s GGR may be down by just 3 to 4 per cent in year-on-year terms despite the negative impact of the early Chinese New Year holiday period taking place from January 28 to February 4. Last year, the Chinese New Year Golden Week was in February making year-on-year comparisons difficult.
JP Morgan forecast that GGR for January and February combined would be flat to plus 2 per cent, implying 2 per cent to 4 per cent growth in daily run rates year-on-year.
Citigroup notes a rise in premium mass wagers in Macau in January
A Citigroup survey recorded premium mass wagers of HK$12.8m (US$1.64m), an 11 per cent increase compared to January 2024. There were 636 players observed, a rise of 19 per cent.
The survey observed 24 whales (players with bets of HK$100,000 per hand or more), versus 27 a year ago. The average wager per whale reached HK$195,000 (US$25k). That’s an increase of 37 per cent in year-on-year terms.
Citigroup said Sands China was the leading Macau casino operator in its January premium mass survey, noting that it holds approximately a 28 per cent share of the industry’s observed wagers. Galaxy Entertainment Group was estimated to have around a 27 per cent market share.
Analysts indicated that Wynn Macau appears to have lost some share of the overall premium mass wager, likely because of significant renovation work at Wynn Encore, referring to the Wynn Macau property located in the downtown area of the Macau peninsula.
Citigroup projected that Macau’s gross gaming revenue (GGR) for January will reach MOP19bn (US$2.38bn). The figure would be 76 per cent of 2019 levels and down 2 per cent year-on-year. Analyst George Choi said that GGR for January and February combined could reach MOP40bn (US$5.01bn), a rise of 6 per cent year-on-year.
