Ho Iat Seng is confident the city’s casinos will hit the monthly average of MOP18bn.<\/p>\n\n\n\n\n\n\n\n
Macau.- Chief executive\u00a0Ho Iat Seng<\/strong>\u00a0remains optimistic about the city’s gross gaming revenue (GGR) prospects for 2024.\u00a0He believes the target of a monthly average of MOP18bn in GGR is attainable.<\/p>\n\n\n\n According to Macao Daily News, Seng described the city’s economic recovery after Covid-19 as “stable” as he toured various districts with officials. He also emphasised the need for rejuvenation efforts from casino operators.<\/p>\n\n\n\n Macau exceeded analysts’ expectations by achieving\u00a0MOP19.34bn (US$2.35bn) in GGR last month<\/a>. Analysts project a further uptick in February, with the daily run rate predicted to surpass January’s average. Morgan Stanley forecasts that GGR could reach MOP20bn this month and will reach 80 per cent of pre-pandemic levels for the full year.<\/p>\n\n\n\n See also:<\/strong>\u00a0Macau GGR reaches US$310.3m in first 4 days of February<\/a><\/p>\n\n\n\n Macau\u2019s GGR for 2023<\/a> was MOP183.06bn. That\u2019s a rise of 333.8 per cent when compared to 2022<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":" Ho Iat Seng is confident the city’s casinos will hit the monthly average of MOP18bn.<\/p>\n","protected":false},"author":176,"featured_media":19807,"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 confidence in achieving a monthly average Gross Gaming Revenue (GGR) of MOP18bn for 2024, citing stable economic recovery and the need for casino operator rejuvenation. This optimism is supported by recent GGR figures exceeding expectations and analyst projections for continued growth, with Morgan Stanley forecasting GGR to reach 80% of pre-pandemic levels for the full year.","focusai_entities":"Ho Iat Seng, Morgan Stanley, Macao Daily News","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.95), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Operator Rejuvenation Strategy","query":"What specific strategic initiatives and capital expenditures are Macau's concessionaires expected to undertake to fulfill the Chief Executive's call for 'rejuvenation efforts' and sustain GGR growth?"},{"label":"GGR Impact on Valuations","query":"How do the current GGR projections and the Chief Executive's optimistic outlook for Macau influence the consensus valuation and investment recommendations for publicly listed gaming operators with significant exposure to the region?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906],"class_list":["post-777013152","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\/777013152","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=777013152"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013152\/revisions"}],"predecessor-version":[{"id":777013186,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013152\/revisions\/777013186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19807"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}