{"id":777002764,"date":"2023-02-24T12:59:44","date_gmt":"2023-02-24T15:59:44","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777002764"},"modified":"2026-04-23T00:18:59","modified_gmt":"2026-04-23T03:18:59","slug":"macau-chief-remains-confident-in-2023-ggr-target","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-chief-remains-confident-in-2023-ggr-target","title":{"rendered":"Macau chief remains confident in 2023 GGR target"},"content":{"rendered":"\n<p>Chief executive Ho Iat Seng says he&#8217;s optimistic about Macau&#8217;s prospects for the year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Encouraged by the results in January and during the first days of February, Macau chief executive<strong> Ho Iat Seng<\/strong> has again expressed confidence that gross gaming revenue (GGR) for 2023&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ce-forecast-ggr-of-us16bn-for-2023\" target=\"_blank\">will reach MOP130bn (US$16bn<\/a>).<\/p>\n\n\n\n<p>Ho said: &#8220;Investment banks have predicted that the gaming revenue will only recover to half of what it was. I won&#8217;t comment on the accuracy of their forecasts.&#8221;<\/p>\n\n\n\n<p>In January,&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-232-6-in-january\" target=\"_blank\">GGR grew 232.6 per cent month-on-month<\/a>&nbsp;from MOP3.48bn (US$433n) to MOP11.6bn. It was the best monthly performance since January 2020 \u2013 before the Covid-19 pandemic. Nearly 1.40 million visitors arrived in Macau in January. That&#8217;s an increase of 101.3 per cent compared to last year and a 259 per cent increase on a month-on-month basis.<\/p>\n\n\n\n<p>For February,&nbsp;<strong>J.P. Morgan<\/strong>&nbsp;has reported that<strong>&nbsp;Macau\u2019s daily gaming revenue&nbsp;<\/strong>last week was about MOP400m (US$49.5m). It described the figure, a 45 per cent recovery of pre-pandemic levels, as the \u201c<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-average-daily-ggr-reaches-us50m-in-third-week-of-february\" target=\"_blank\">best non-holiday print<\/a>\u201d in over three years.<\/p>\n\n\n\n<p>In theory, to reach the government&#8217;s objective, a monthly average of MOP10.83bn is required. That&#8217;s without considering seasonality. For full-year 2022, Macau\u2019s casino GGR&nbsp;<strong>decreased by 51.4 per cent<\/strong>&nbsp;compared with 2021 to MOP42.19bn (US$5.25bn). That\u2019s just 14 per cent of pre-pandemic 2019 and the lowest yearly figure since 2004.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chief executive Ho Iat Seng says he&#8217;s optimistic about Macau&#8217;s prospects for the year.<\/p>\n","protected":false},"author":176,"featured_media":21776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Chief Executive, Ho Iat Seng, expresses optimism for 2023 GGR, projecting MOP130bn (US$16bn) following strong January performance and early February trends. January GGR surged 232.6% month-on-month to MOP11.6bn, marking the best monthly result since January 2020, supported by a significant increase in visitor arrivals. This recovery follows a challenging 2022, where GGR was MOP42.19bn, just 14% of pre-pandemic levels.","focusai_entities":"Ho Iat Seng, J.P. Morgan","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), affiliate_publisher (0.7), marketing_crm (0.8), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Recovery Drivers?","query":"Beyond visitor volume, what specific market segments or gaming verticals are primarily driving Macau's GGR recovery, and how sustainable are these trends?"},{"label":"Concessionaire Strategy Impact?","query":"What are the immediate and long-term implications of this GGR recovery for the capital expenditure plans, operational strategies, and non-gaming investment commitments of Macau's concessionaires?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-777002764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777002764"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002764\/revisions"}],"predecessor-version":[{"id":777002778,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002764\/revisions\/777002778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21776"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}