Macau GGR reaches US$1.61bn for first 21 days of January
Analysts at JP Morgan say Macau’s casino gross gaming revenue reached a daily run-rate of MOP619m.
Macau.- JP Morgan Securities (Asia Pacific) has estimated that Macau’s casino gross gaming revenue (GGR) for the first 21 days of January was MOP13bn (US$1.61bn). The estimated daily run-rate was MOP619m (US$76.9m).
According to analysts DS Kim, Mufan Shi, and Selina Li, the figure represents a “robust run-rate” compared to MOP599m a day in December, “which was already a beat.” Analysts suggest that Macau’s daily casino GGR for the seven days leading up to Sunday (January 21) was MOP628m. This implies a sequential improvement despite weaker seasonality, almost comparable to the New Year holiday (MOP630m).
JP Morgan believes that last week’s tally indicates that mass revenue was running at 105 to 110 per cent of pre-Covid-19 levels, while VIP was flat month-on-month in the low-20 per cent. Although GGR is expected to slow ahead of Chinese New Year, analysts expect January to reach at least MOP17.5bn to MOP18bn. The Chinese New Year holiday period runs from February 10 to 17.
According to data from the Gaming Inspection and Coordination Bureau (DICJ), December’s GGR was up 15.8 per cent month-on-month from MOP16.04bn to MOP18.56bn (US$2.3bn). Authorities reported that Macau’s GGR for 2023 was MOP183.06bn (US$22.75bn), a rise of 333.8 per cent when compared to 2022.
