Macau GGR to reach US$2.3bn in April, analysts say
Citigroup predicts that Macau’s GGR will recover to 78 per cent of 2019 levels.
Macau.- Citigroup has forecast that gross gaming revenue (GGR) will reach MOP$18.5bn (US$2.3bn) in April. That would be 78 per cent of the 2019 levels.
According to analysts George Choi and Ryan Cheung, the daily run rate for the last seven days of March was MOP658m, up from around MOP629m in the prior week. They attributed the increase to increased visitation during the Easter holidays (March 29 to April 1 for Hong Kong). Data from the Public Security Police indicates a peak of 122,235 visitors on March 30.
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).
