Macau’s casino gross gaming revenue recovered to nearly 80 per cent of pre-pandemic levels.
Macau.- Analysts at JP Morgan Securities have reported that Macau’s GGR for the first eight days of October was MOP6.65bn (US$824.5m), equivalent to a daily average of MOP830m. That compares to average daily GGR of MOP645m during this year’s May Golden Week.
October Golden Week spanned eight days from September 29 to October 6, including the Mid-Autumn Festival and China’s National Day celebrations. Daily GGR peaked at over MOP930m but slowed in the final two days, with October 7 and 8 each seeing MOP500m.
Analysts noted that the daily GGR run-rate for the period suggested an approximate 80 per cent recovery in headline GGR compared to the Golden Week holiday in 2019, when aggregate GGR reached MOP1.16bn. That compares to a 70 per cent recovery in Macau’s GGR in the third quarter of 2023.
The report highlighted that mass GGR is likely to have exceeded expectations, reaching around 110 per cent to 120 per cent of 2019 Golden Week levels, surpassing the 100 per cent that many investors had anticipated.
Macau’s GGR for September was down 13.2 per cent month-on-month from MOP17.21bn (US$2.13bn) to MOP14.94bn (US$1.85bn). However, GGRT was up 404.2 per cent year-on-year. Cumulatively, Macau’s GGR for the first nine months of 2023 was MOP128.95bn, up 305.3 per cent compared to the same period in 2022.