Macau GGR reaches US$556.7m in first 7 days of May
Macau’s gross gaming revenue saw a sharp rise from the first quarter.
Macau.- Analysts at JP Morgan Securities (Asia Pacific) have reported that Macau’s casino gross gaming revenue (GGR) for the first seven days of May is estimated to be around MOP4.5bn (US$556.7m). This comes after the Labour Day holiday generated daily casino GGR estimated at MOP900m from April 29 to May 3.
GGR dropped to half of that during the remaining four days of the reporting period until May 7, but it still appears that demand for mass-market gambling will be at least 90 per cent of pre-Covid levels during the holiday.
Analysts DS Kim and Mufan Shi said Macau GGR numbers are “looking great, despite frustratingly weak stock momentum,” referring to the recent decline in Macau’s gaming concessionaires’ stock prices.
According to the memo, MOP4.5bn GGR would imply a daily run-rate of MOP640m, which is significantly higher than the MOP490m per day achieved in April, “let alone MOP385m” daily in the first quarter this year.
The Gaming Inspection and Coordination Bureau reported that GGR for the month of April was up 15.6 per cent month-on-month from MOP12.73bn to MOP14.72bn (US$1.83bn). The figure was up 449.9 per cent when compared to last year. April was the best month since January 2020, before the Covid-19 pandemic began. Accumulated GGR for the first four months of the year was MOP46.36bn (US$5.75bn), a 141.4 per cent yearly increase.