Macau’s GGR for first five days of February stands at US$235.1m

Average daily casino GGR was MOP380m.

Macau.- JP Morgan Securities (Asia Pacific) Ltd has estimated that Macau’s casino gross gaming revenue (GGR) for the first five days of February stands at approximately MOP1.9bn (US$235.1m), or MOP380 million per day. This level of GGR suggests a recovery of “45 per cent or more” when compared to pre-Covid-19 levels.

According to analysts, the GGR estimate for the first five days of February is better than expected, with a boost from post-holiday demand in the high-end mass-market and VIP segments.

Analyst DS Kim said all operators, excluding SJM Holdings Ltd due to the operating expenses of Grand Lisboa Palace, are expected to comfortably achieve positive free cash flow, which will be confirmed with first-quarter results.

Macau GGR grew 232.6 per cent month-on-month from MOP3.48bn (US$433n) in December to MOP11.6bn in January. Revenue was up 82.5 per cent year-on-year and represents the best monthly performance since January 2020 – before the Covid-19 pandemic – thanks to a rise in visitors after the ending of China and Macau’s ‘zero-covid’ policies before the seven-day Chinese New Year holiday period.