Macau GGR reaches US$591.4m in first eight days of September, Citigroup says
Citigroup says daily average gross gaming revenue was MOP$594m.
Macau.- Analysts at Citigroup have estimated that Macau’s gross gaming revenue (GGR) for the first eight days of September was MOP$4.75bn (US$591.4m). The estimated GGR run-rate was MOP594m a day, down 6 per cent when compared to the last 13 days of August.
VIP volumes were down 7 to 10 per cent month-on-month and mass volumes were down 5 to 8 per cent month-on-month. Analyst George Choi said the gaming industry was hardly affected by Typhoon Yagi, but Citigroup has revised down its GGR estimate for the month from MOP18.5bn to MOP18.25bn. This would represent a 22 per cent year-on-year increase to approximately 83 per cent of the same month in 2019.
In August, Macau casinos generated MOP19.75bn (US$2.46bn) in GGR. The figure was up 14.8 per cent year-on-year and 6.2 per cent sequentially. It was the second-best monthly tally of the year after May but was down by 18.6 per cent compared to August 2019.
Cumulatively, Macau’s GGR for the first eight months of 2024 was MOP152.10bn (US$19.92bn), up 33.4 per cent year-on-year but 23.3 per cent below the same period in 2019 (US$24.66bn).
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Macau gaming sector operating expenses rise 236.7% in 2023
The Macau Statistics and Census Service has reported the city’s gaming sector operating expenses reached MOP31.07bn (US$3.95bn) in 2023. That’s a rise of 236.7 per cent year-on-year but is logical considering the lifting of Covid-19 restrictions early last year.
The costs associated with complimentary services provided to customers, such as hotel stays, food, and beverages, rose by 365.1 per cent to MOP19.51bn. Total expenditure was up 98.6 per cent year-on-year, to MOP80.07bn. The largest growth was in the purchase of goods, commissions, and customer rebates, up 386.4 per cent to MOP18.12bn.
