Macau GGR to reach at least US$2.18bn in April, analysts say
Macquarie Equity Research predicts that GGR will reach 75-79 per cent of pre-Covid19 levels.
Macau.- Analysts at Macquarie Equity Research have forecast that Macau’s gross gaming revenue (GGR) will reach between MOP17.6bn (US$7.11bn) and MOP18.7bn in April. Analysts Linda Huang and Howard Suen said the daily run rate for last week was MOP600m while the daily run date for the month is expected to be between MOP580m and MOP630m.
The figures indicate a potential 75 per cent to 79 per cent recovery compared to pre-pandemic levels in 2019, surpassing the March 2024 results. According to analysts, this is mainly due to favourable tourist arrivals during Easter and sustained interest from mainland Chinese visitors. During the Easter holidays (March 29 to April 1 in Hong Kong) some 406,000 people visited the city.
Macau’s GGR for March was MOP19.50bn (US$2.42bn), an increase of 5.5 per cent month-on-month and 53.1 per cent when compared to March 2023. Cumulatively, Macau’s GGR for the first three months of 2024 was MOP$57.3bn (US$7.11bn), up 65.5 per cent year-on-year and implying a full-year run rate of around MOP$229.2bn (US$28.4bn).
