Macau’s gross gaming revenue is expected to exceed the MOP130bn target thanks to a better-than-expected recovery.<\/p>\n\n\n\n\n\n\n\n
Macau.- The Macau Economic Association has predicted that GGR for 2023 could surpass the government’s MOP130bn target for 2023<\/a>. GGR reached MOP46.36bn (US$5.75bn) in the first four months of the year, approximately 38 per cent of the target and half of pre-pandemic levels.<\/p>\n\n\n\n Chief Executive Ho Iat Seng’s target of MOP130bn (US$16bn) compares to GGR of MOP42.2bn last year<\/a>.<\/p>\n\n\n\n The Macau Economic Association emphasised the positive trajectory of various indicators as economic and social activities return to normalcy after the pandemic. In April, GGR was up 15.6 per cent month-on-month<\/a> from MOP12.73bn to MOP14.72bn (US$1.83bn). The figure was up 449.9 per cent when compared to last year, and April was the best month since January 2020, before the Covid-19 pandemic began.<\/p>\n\n\n\n However, the association cautioned that the economic recovery is uneven, with small and medium-sized enterprises in non-tourism sectors yet to reap the benefits of increased visitor numbers. Several factors continue to impact Macau’s economic resurgence, including a complex external environment, weak consumer demand, and cautious investment markets. The potential effects of Federal Reserve interest rate adjustments on the global economy pose another challenge.<\/p>\n\n\n\n Analysts at JP Morgan Securities (Asia Pacific)<\/strong> have reported that Macau\u2019s casino gross gaming revenue (GGR) for the first two weeks of May is estimated at MOP8bn (US$990m), representing a daily run-rate of MOP570m<\/strong>. <\/p>\n\n\n\n Analyst DS Kim<\/strong> said predicted that the strong performance represents a higher baseline demand level rather than a temporary boost. Kim highlighted that even during the traditionally slower week following the Labour Day holiday<\/a>, GGR remained at a daily rate of MOP500m, surpassing the MOP400m+ rates observed before the holiday. <\/p>\n\n\n\nMacau GGR for first 14 days of May estimated at US$990m<\/h2>\n\n\n\n