{"id":777013787,"date":"2024-03-08T08:19:38","date_gmt":"2024-03-08T11:19:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013787"},"modified":"2026-04-22T12:14:32","modified_gmt":"2026-04-22T15:14:32","slug":"morgan-stanley-lowers-macau-ggr-forecast-for-march","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/morgan-stanley-lowers-macau-ggr-forecast-for-march","title":{"rendered":"Morgan Stanley lowers Macau GGR forecast for March"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Morgan Stanley says Macau casino revenue fell short of expectations in February.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.-&nbsp;<strong>Morgan Stanley<\/strong>&nbsp;has revised downwards its forecast for Macau&#8217;s casino revenue in March to MOP19bn (US$2.37bn), citing underperformance in February.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-79-1-in-february\" target=\"_blank\" rel=\"noreferrer noopener\">February&#8217;s gross gaming revenue (GGR)<\/a> fell at the lower end of analysts&#8217; projections, at MOP18.49bn (US$2.29bn). That\u2019s a drop of 4.4 per cent\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-up-67-in-january\" target=\"_blank\" rel=\"noreferrer noopener\">month-on-month<\/a>\u00a0but up 79.1 per cent when compared to last February. Analysts had anticipated figures ranging from MOP18bn to MOP19.8bn.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While Chinese New Year visitation from mainland China saw an increase compared to the previous Golden Week last October, daily GGR saw only modest growth, up by 1.3 per cent.\u00a0Analysts attribute this to weaker post-New Year spending and\/or low VIP luck, since MLCO and Galaxy noted Mass GGR recoveries of 122 per cent and 122 per cent, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Earlier this week,\u00a0<strong>Deutsche Bank Securities\u00a0<\/strong>estimated that\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-to-reach-us2-42bn-in-march-analysts-say\" target=\"_blank\" rel=\"noreferrer noopener\">Macau\u2019s GGR for March will amount to US$2.42bn<\/a>, up 5.7 per cent sequentially. Cumulatively, Macau\u2019s GGR for the first two months of 2024 was MOP37.82bn, up 72.7 per cent from the prior-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Stanley says Macau casino revenue fell short of expectations in February.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 has revised its March Macau GGR forecast downwards to MOP19bn (US$2.37bn) following February's MOP18.49bn GGR, which fell short of analyst expectations despite significant year-on-year growth. The underperformance is attributed to weaker post-Chinese New Year spending and potential low VIP luck, contrasting with strong Mass GGR recovery noted by operators like MLCO and Galaxy.","focusai_entities":"Morgan Stanley, Deutsche Bank Securities, MLCO, Galaxy","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Outlook","query":"What specific factors beyond 'weaker post-New Year spending' are contributing to the GGR forecast revision, and how might the observed Mass GGR recovery offset or exacerbate VIP segment underperformance in Q2 2024?"},{"label":"Operator Impact Analysis","query":"Given the disparity between overall GGR underperformance and strong Mass GGR recovery for MLCO and Galaxy, what are the implications for individual operator market share and profitability strategies in Macau?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777013787","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013787","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=777013787"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013787\/revisions"}],"predecessor-version":[{"id":777013818,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013787\/revisions\/777013818"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}