Macau GGR to reach US$2.36bn in February, analysts say
February’s gross gaming revenue (GGR) is expected to be up 80 per cent year-on-year.
Macau.- Analysts at JP Morgan expect that Macau’s GGR for February will be up by 80 per cent in year-on-year terms, to MOP19bn (US$2.36bn). It notes that a strong Chinese New Year holiday period is expected to contribute to the highest run-rate in over four years, with an average of MOP650m (US$80.6m) per day.
For the first quarter, JP Morgan forecasts mid to high single-digit growth in GGR. Data from the first 18 days of February show GGR has already reached MOP12.5bn (US$1.55bn), with average daily revenue of MOP694 million (US$86.1m). This is 75 per cent of GGR from the same period in 2019.
During the peak of the Chinese New Year holidays, daily GGR likely surpassed MOP1bn (US$124m) for the first time in over four years. During the eight-day holiday period, there were 1,357,064 visitor arrivals, translating to a daily average of 169,631. The figure exceeded forecasts by tourism authorities.
