CLSA predicts Macau’s 2024 GGR will reach $30.3bn.<\/p>\n\n\n\n\n\n\n\n
Macau.- Analysts at\u00a0CLSA<\/strong>\u00a0have predicted that Macau’s GGR for 2024 will increase by 34 per cent\u00a0compared to last year<\/a>, reaching US$30.3bn. This projection reflects a 3.5 per cent upward adjustment from previous estimates, fueled by\u00a0a positive Chinese New Year period<\/a>. <\/p>\n\n\n\n The firm forecast\u00a0a 5 per cent rise in GGR in 2025<\/strong>, with gaming revenue expected to reach US$31.9bn. The outlook is attributed to revised visitation assumptions for traditionally slower months, which have been strong so far in 2024.\u00a0<\/p>\n\n\n\n However, CLSA has adjusted its forecast for gaming operators’ earnings before interest, taxes, depreciation, and amortisation (EBITDA) downwards by 1 to 3 per cent due to the gradual normalisation of operations and disruptions caused by the revamp of Londoner Phase II.\u00a0The CLSA expects sector EBITDA to remain 8 per cent below 2019 levels in 2024\u00a0but could recover slightly to 1 per cent below 2019 levels by 2025.\u00a0<\/p>\n\n\n\n Analysts noted that Macau’s visitation and gaming revenue have continued to rebound in the first quarter of 2024, with\u00a0gaming revenue reaching 75 per cent of first-quarter 2019 levels\u00a0and\u00a0February visitations reaching 93 per cent of February 2019 levels<\/a>.\u00a0<\/p>\n\n\n\n CLSA analysts\u00a0Jeffrey Kiang<\/strong>\u00a0and\u00a0Leo Pan<\/strong>\u00a0highlight increased competition in the gaming industry, with all operators planning to introduce smart gaming tables in 2024.\u00a0They also noted improvements in the sector’s balance sheets, with a 4 per cent year-over-year decline in net debt in 2023.\u00a0For 2023, Macau\u2019s GGR was MOP183.06bn (US$22.75bn).\u00a0<\/p>\n\n\n\n