Macau to see highest GGR since pandemic in July, analysts say
Macau GGR reached MOP8.25bn (US$1.03bn) in the first 16 days of the month.
Macau.- Macau’s gaming industry is surpassing revenue projections for July, reaching an estimated MOP8.25bn (US$1.03bn) in the first 16 days of the month. This translates to a daily run-rate of MOP5150m in daily gross gaming revenue (GGR), despite the challenges posed by Typhoon No.8, which brought the city to a temporary halt on Monday (July 17).
Analysts at JP Morgan Securities (Asia Pacific) said GGR for the first half of July marks an increase from the second quarter’s daily run-rate, which stood at MOP500m. However, analysts noted there was a temporary moderation in last week’s casino revenue, estimated at approximately MOP493m per day. This drop was attributed to the impact of Typhoon Talim and related last-minute cancellations. Despite this, Macau’s GGR is projected to hit its highest level since the pandemic at over MOP16bn (US$1.99bn) or MOP515m per day.
In June, Macau recorded GGR of just under MOP15.21bn (US$1.88bn), a 2.3 per cent decline from May. Macau’s casino GGR for the first half of 2023 was MOP80.14bn (US$9.93bn), up 205.1 per cent. Macau’s casino GGR for the entire year of 2022 stood at MOP42.20bn, down 51.4 per cent compared to the previous year.
