Macau mass GGR recovers to 93-94% of pre-Covid-19 levels, analysts say
The base mass segment has reached 75 to 80 per cent of pre-Covid-19 performance.
Macau.- JP Morgan analysts DS Kim, Mufan Shi, and Selina Li have reported that Macau’s mass gross gaming revenue (GGR) has reached approximately 93 to 94 per cent of pre-pandemic benchmarks. The premium mass segment’s resurgence has been even stronger, rebounding to 110 per cent of 2019 levels. The grind or base mass segment has reached 75 to 80 per cent of pre-Covid-19 performance.
Macau’s GGR for August was up 686.4 per cent year-on-year and 3.3 per cent month-on-month to MOP17.21bn (US$2.13bn). This translates to a daily run-rate of MOP555m, representing a recovery to 71 per cent of pre-Covid-19 levels.
September’s GGR is not anticipated to grow further due to seasonal factors since the month is a transition between the summer holidays and the October Golden Week. Super Typhoon Saola led to the closure of casinos for a period on Friday night. JP Morgan analysts maintain a positive outlook on the Macau gaming sector, suggesting that investors consider a long-term investment approach, holding positions for over 12 months.
