Jefferies Equity Research expects GGR to approach US$23bn.<\/p>\n\n\n\n\n\n\n\n
Macau.- Jefferies Equity Research<\/strong> has forecast that gross gaming revenue (GGR) will reach 63 per cent of the 2019 levels<\/strong> this year. That compares to a previous prediction of 45 per cent.<\/p>\n\n\n\n In 2019, Macau’s gaming industry recorded GGR of MOP292.46bn (US$36.3bn). Based on the current projections, the sector could see nearly US$23bn in 2023. Mass market GGR is expected to recover by 86 per cent in 2023 and reach full recovery by 2024.<\/p>\n\n\n\n In July,\u00a0Macau recorded its best monthly performance since January 2020<\/a>, at the beginning of the Covid-19 pandemic. GGR was MOP16.66bn (US$2.07bn), up 9.6 per cent\u00a0month-on-month<\/a>\u00a0and up 4,083 per cent year-on-year. Casino GGR for the first seven months of the year was MOP96.80bn (US$12bn).<\/p>\n\n\n\n Jefferies Equity Research highlighted Galaxy Entertainment Group (GEG), citing an expected positive impact of Phase 3 openings on foot traffic. The company recently posted a profit of HK$2.89bn (US$369m) in its\u00a0financial results for the first half of the year<\/a>. That compared to a HK$850.47m loss\u00a0in the same period of 2022<\/a>.<\/p>\n\n\n\n Revenue was up 141 per cent year-on-year to HK$15.72bn (US$2.04bn) and adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was up 2,193 per cent to HK$4.4bn.<\/p>\n","protected":false},"excerpt":{"rendered":" Jefferies Equity Research expects GGR to approach US$23bn.<\/p>\n","protected":false},"author":176,"featured_media":18146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Jefferies Equity Research has significantly upgraded Macau's 2023 Gross Gaming Revenue (GGR) forecast to approximately US$23 billion, representing 63% of 2019 levels, driven by robust mass market recovery expected to reach 86% this year. This positive outlook is underscored by Macau's strong July performance and Galaxy Entertainment Group's return to profitability, with substantial revenue and EBITDA growth attributed partly to Phase 3 openings.","focusai_entities":"Jefferies Equity Research, Galaxy Entertainment Group (GEG)","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Mass Market Recovery Drivers","query":"What specific factors are driving the accelerated mass market GGR recovery in Macau, and how sustainable are these trends given current geopolitical and economic conditions?"},{"label":"GEG Competitive Advantage","query":"How do Galaxy Entertainment Group's Phase 3 openings and recent financial performance position it competitively against other Macau concessionaires amidst the broader market recovery?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-777008361","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\/777008361","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=777008361"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008361\/revisions"}],"predecessor-version":[{"id":777008380,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008361\/revisions\/777008380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18146"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}