{"id":777023698,"date":"2025-03-05T08:51:39","date_gmt":"2025-03-05T11:51:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777023698"},"modified":"2026-04-22T01:10:36","modified_gmt":"2026-04-22T04:10:36","slug":"macau-ggr-to-reach-up-to-us2-57bn-in-march-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-ggr-to-reach-up-to-us2-57bn-in-march-analysts-say","title":{"rendered":"Macau GGR to reach up to US$2.57bn in March, analysts say"},"content":{"rendered":"\n

J.P Morgan expects GGR growth to accelerate in the latter half of the year.<\/p>\n\n\n\n\n\n\n\n

Macau.- J.P. Morgan <\/strong>has forecast that Macau gross gaming revenue (GGR) will range between MOP19bn (US$2.38bn) and MOP20.5bn (US$2.57bn) in March. Analysts DS Kim<\/strong>, Selina Li<\/strong>, and Mufan Shi<\/strong> forecast that GGR for the first quarter will be flattish at around MOP56.7bn (US$7.10bn), slightly below the 2024 record of MOP57.3bn (US$7.18bn). <\/p>\n\n\n\n

They predict that GGR will accelerate to 5 per cent growth<\/strong> in the latter half of the year, driven by easier year-over-year comparisons. This would lead to overall growth of 2 per cent for the full year.<\/p>\n\n\n\n

Meanwhile, Seaport Research Partners<\/strong> has forecast that GGR in March could be up 5.3 per cent in year-on-year terms to MOP20.5bn. Analysts attributed the growth to the advantageous policies emerging from China\u2019s Two Sessions, the annual plenary sessions of the National People’s Congress and of the Chinese People’s Political Consultative Conference. Morgan Stanley<\/strong> projects that March GGR will reach MOP20.1bn (US$2.52bn). That would be an increase of 3.3 per cent compared to last year. <\/p>\n\n\n\n

Macau GGR rises in February<\/h2>\n\n\n\n

Macau’s GGR for February was MOP19.74bn (US$2.46bn). That\u2019s an increase of 6.8 per cent in year-on-year terms<\/a> and a rise of 8.2 per cent sequentially<\/a>. GGR was 77.8 per cent of February 2019\u2019s level.<\/p>\n\n\n\n

The figure was boosted by the Chinese New Year (CNY) holiday, which took place from January 28 to February 4. GGR averaged MOP780m (US$97.3m) <\/strong>per day over the holiday period for an aggregate of MOP6.24bn. According to Seaport Research Partners<\/a>, the figure was down 1 per cent compared to CNY 2024 and 8 per cent compared to 2019. <\/p>\n\n\n\n

Cumulatively, Macau\u2019s GGR for the first two months of 2024 was MOP38bn, up 0.5 per cent from the prior-year period. Macau\u2019s GGR for 2024 was MOP226.78bn (US$28.39bn)<\/strong>, up 23.8 per cent year-on-year but down 22.45 per cent compared to 2019 levels (MOP292.45bn). The result surpassed the Macau government\u2019s expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"

J.P Morgan expects GGR growth to accelerate in the latter half of the year.<\/p>\n","protected":false},"author":176,"featured_media":22443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"J.P. Morgan, Seaport Research Partners, and Morgan Stanley have issued varied forecasts for Macau's March Gross Gaming Revenue (GGR), generally projecting growth between MOP19bn and MOP20.5bn. While Q1 GGR is expected to be relatively flat, analysts anticipate an acceleration to 5% year-over-year growth in the latter half of 2024, driven by easier comparisons and supportive Chinese policies, leading to an overall 2% full-year increase. This follows a robust February performance, boosted by the Chinese New Year, and a strong 2023 GGR that surpassed government expectations.","focusai_entities":"J.P. Morgan, DS Kim, Selina Li, Mufan Shi, Seaport Research Partners, Morgan Stanley, National People\u2019s Congress, Chinese People\u2019s Political Consultative Conference","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), affiliate_publisher (0.7), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"H2 GGR Drivers","query":"Beyond 'easier year-over-year comparisons,' what specific macroeconomic indicators or policy shifts are J.P. Morgan and other analysts factoring into the projected 5% GGR acceleration for Macau in H2 2024, and how might these influence gaming vertical performance?"},{"label":"Concessionaire Valuation","query":"How do these updated GGR forecasts for Macau impact the consensus EBITDA estimates and valuation multiples for the publicly traded concessionaires, particularly considering their varying exposure to VIP versus mass market segments?"}],"footnotes":""},"categories":[16338,163],"tags":[23907,23906],"class_list":["post-777023698","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\/777023698","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=777023698"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023698\/revisions"}],"predecessor-version":[{"id":777023728,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777023698\/revisions\/777023728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22443"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777023698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777023698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777023698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}