{"id":777005461,"date":"2023-05-22T12:58:05","date_gmt":"2023-05-22T15:58:05","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777005461"},"modified":"2026-04-22T21:44:38","modified_gmt":"2026-04-23T00:44:38","slug":"macau-ggr-shows-strong-growth-in-may-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-shows-strong-growth-in-may-analysts-say","title":{"rendered":"Macau GGR shows strong growth in May, analysts say"},"content":{"rendered":"\n

Macau’s gross gaming revenue (GGR) is surpassing April’s figures.<\/p>\n\n\n\n\n\n\n\n

Macau.- Macau is experiencing a rise in gross gaming revenue (GGR) <\/strong>for the first three weeks of May, according to a report by analysts DS Kim<\/strong> and Mufan Shi<\/strong> from JP Morgan. Casino revenue for the period is estimated at MOP11.1bn (US$1.38bn), indicating a daily run-rate of MOP528m. This surpasses the figures seen in April<\/a>, which averaged MOP491m per day.<\/p>\n\n\n\n

While gross gaming revenue fell slightly to MOP450m per day last week, analysts believe the significance of the monthly and month-to-date trends outweigh this. The month-to-date numbers suggest mass demand is around 85 per cent of pre-Covid levels, while VIP demand has reached about 25 per cent. This compares to 67 per cent and 15 per cent, respectively in Q1.<\/p>\n\n\n\n

JP Morgan’s analysts predict that Macau’s casino revenue for May will reach a new post-pandemic high of MOP15.5bn, exceeding April’s MOP14.7bn. This forecast implies a 60 per cent recovery in headline GGR, primarily driven by an 85 per cent recovery in the mass market.<\/p>\n\n\n\n

Kim and Shi maintain a bullish outlook on the Macau gaming sector<\/strong>. They believe that better-than-expected fundamentals will eventually drive sentiment and stock prices higher. The Macau Economic Association has predicted that GGR for 2023 could surpass the government\u2019s MOP130bn target for 2023<\/a>. <\/p>\n\n\n\n

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

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\u2019s 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","protected":false},"excerpt":{"rendered":"

Macau’s gross gaming revenue (GGR) is surpassing April’s figures.<\/p>\n","protected":false},"author":176,"featured_media":22971,"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 gross gaming revenue (GGR) for the first three weeks of May reached MOP11.1bn, with a daily run-rate of MOP528m, surpassing April's figures. JP Morgan analysts forecast May's GGR to hit a post-pandemic high of MOP15.5bn, primarily driven by an 85% recovery in the mass market. Despite an uneven broader economic recovery and external challenges, analysts maintain a bullish outlook on the sector's fundamentals.","focusai_entities":"JP Morgan, DS Kim, Mufan Shi, Macau Economic Association, Federal Reserve","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Segment Recovery?","query":"What specific policy interventions or market shifts could further accelerate Macau's VIP gaming segment recovery towards pre-pandemic levels?"},{"label":"Operator Capex Impact?","query":"How might the projected GGR recovery and mass market dominance impact the capital expenditure plans and strategic investments of integrated resort operators in Macau?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906],"class_list":["post-777005461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005461","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=777005461"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005461\/revisions"}],"predecessor-version":[{"id":777005507,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005461\/revisions\/777005507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22971"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}