{"id":777012239,"date":"2024-01-04T09:52:41","date_gmt":"2024-01-04T12:52:41","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777012239"},"modified":"2026-04-22T14:19:04","modified_gmt":"2026-04-22T17:19:04","slug":"macau-ggr-to-rise-28-year-on-year-in-2024-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-to-rise-28-year-on-year-in-2024-analysts-say","title":{"rendered":"Macau GGR to rise 28% year-on-year in 2024, analysts say"},"content":{"rendered":"\n<p>Morgan Stanley predicts that GGR will reach 80 per cent of pre-pandemic levels.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Morgan Stanley has predicted that Macau&#8217;s gross gaming revenue will rise 28 per cent year-on-year in 2024 and reach 80 per cent of pre-pandemic levels. Morgan Stanley predicts that <strong>Macau&#8217;s January GGR will be MOP18.8bn<\/strong>, about 75 per cent of the 2019 level.\u00a0<\/p>\n\n\n\n<p>It thinks mass GGR in Q4 2023 was up 9 per cent quarter-on-quarter, reaching 103 per cent of the 2019 level. It is estimated that industry property EBITDA for the fourth quarter was up 11 per cent on a quarterly basis at MOP2.1bn (US$16.9bn), marking a recovery to 85 per cent of pre-Covid-19 levels. <\/p>\n\n\n\n<p>For 2023 as a whole, <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-333-8-in-2023\" target=\"_blank\" rel=\"noreferrer noopener\">Macau\u2019s GGR<\/a> was MOP183.06bn (US$22.75bn). That represented 62.5 per cent of the 2019 figure. December GGR was up 16 per cent month-on-month at MOP18.56bn (US$2.3bn).<\/p>\n\n\n\n<p>Morgan Stanley expects a rise in operating and capital expenses for Macau&#8217;s gaming industry in 2024, driven by wage increases and committed investments.\u00a0Analysts also expect gaming companies to implement a 2-3 per cent wage increase while maintaining the 13th-month salary bonus, following the government lead.<\/p>\n\n\n\n<p>Operating expenses may also rise due to <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-casinos-to-increase-non-gaming-investment-if-ggr-reaches-us22-45bn\">non-gaming investment<\/a>\u00a0and competition for gaming hosts\/sales.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Stanley predicts that GGR will reach 80 per cent of pre-pandemic levels.<\/p>\n","protected":false},"author":176,"featured_media":777006346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Morgan Stanley forecasts Macau's GGR to reach 80% of pre-pandemic levels in 2024, driven by a 28% year-on-year increase. The report highlights Q4 2023 mass GGR exceeding 2019 levels and anticipates rising operating and capital expenses in 2024 due to wage increases and non-gaming investments.","focusai_entities":"Morgan Stanley","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"GGR Recovery Drivers","query":"What specific factors, beyond general market reopening, are Morgan Stanley identifying as primary drivers for Macau's GGR recovery to 80% of pre-pandemic levels in 2024, particularly concerning mass market versus VIP segments?"},{"label":"OpEx Impact Analysis","query":"How do the projected increases in operating and capital expenses, driven by wage hikes and non-gaming investments, impact the net profit margins and return on invested capital for Macau's integrated resort operators in 2024?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,23906],"class_list":["post-777012239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012239","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=777012239"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012239\/revisions"}],"predecessor-version":[{"id":777012255,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012239\/revisions\/777012255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}