Macau GGR reaches US$347.6m in first 5 days of November
JP Morgan Securities (Asia Pacific) says Macau’s casino gross gaming revenue reached a daily run-rate of MOP560m.
Macau.- Analysts at JP Morgan Securities (Asia Pacific) have reported that Macau’s casino gross gaming revenue (GGR) for the first five days of November was MOP2.8bn (US$347.6m), equivalent to an average daily revenue of MOP560m. DS Kim, Mufan Shi, and Selina Li said this aligns closely with August’s daily GGR of approximately MOP555m.
JP Morgan’s assessment is more positive than the market’s general expectations, which were situated between MOP530m to MOP540m, amounting to a full-month estimate of MOP16bn. The analysis from JP Morgan also suggests that mass GGR has exceeded 100 per cent of pre-Covid levels, while VIP demand remains at around 23 to 25 per cent.
In October, Macau’s GGR was up 30.6 per cent month-on-month, rising from MOP14.94bn in September to MOP19.50bn (US$2.42bn). GGR was up 400.2 per cent when compared to last October. Cumulatively, Macau’s GGR for the first ten months of 2023 was MOP148.44bn (US$18.44bn), up 315.6 per cent compared to the same period in 2022.
