Macau mass GGR to reach pre-Covid-19 levels in October, analysts say
Analysts at JP Morgan Securities predict a benefit from the October Golden Week.
Macau.- Analysts at JP Morgan Securities (Asia Pacific) have reported that Macau’s mass-market casino gross gaming revenue (GGR) could reach 100 per cent of pre-Covid-19 pandemic levels during this year’s October Golden Week. Meanwhile, analysts at Citigroup highlighted an increase in high-value casino players, or “whales,” demonstrating a strong interest in gaming despite economic challenges in China.
Analysts from both institutions pointed to promising trends in GGR performance. JP Morgan says GGR averaged at MOP560m (US$69.4m) per day in the first 20 days of August. Mass-market GGR has reached a daily run rate of “90 to 95 per cent of the pre-Covid level” for August.
Citigroup noted a mix of “grade-A premium mass players” and more “casual” premium mass players. GGR for the first seven months of the year was MOP96.80bn (US$12bn).
China’s State Council has designated September 29 to October 6 as Golden Week. In 2022, the holiday saw 182,000 visitors, 163,000 of them from mainland China.
