Macau GGR reaches US$1.82bn in first 23 days of March, Citigroup says
Analysts say daily average gross gaming revenue was MOP635m.
Macau.- Analysts at Citigroup have estimated that Macau’s gross gaming revenue (GGR) for the first 23 days of March was MOP14.6bn (US$1.82bn). The estimated GGR run rate was MOP635m per day.
Analysts George Choi and Timothy Chau said GGR is flat in year-on-year terms. The daily run rate for the week of March 17-23 was MOP643m (US$80.1m), a rise of 3 per cent compared to the previous week (MOP621m). Analysts said VIP volume fell by 8 to 10 per cent month-on-month and mass GGR by 7 to 9 per cent. They said the VIP hold rate appeared to be higher than the previous week’s.
Citigroup said its March 2025 GGR forecast remains unchanged at MOP19.5bn (US$2.43bn). Flat year-on-year, this would represent approximately 75 per cent of the March 2019 levels. GGR for February was MOP19.74bn (US$2.46bn), an increase of 6.8 per cent in year-on-year terms and 8.2 per cent sequentially. GGR was 77.8 per cent of February 2019’s level. Cumulatively, GGR for the first two months of 2024 was MOP38bn, up 0.5 per cent from the prior-year period.
