Analysts predict that August gross gaming revenue could reach the highest total for a non-Golden Week month since the pandemic.<\/p>\n\n\n\n\n\n\n\n
Macau.- Morgan Stanley has forecast a 15 per cent year-on-year increase in gross gaming revenue (GGR) for the second half of the year. It reported crowded casinos and hotels during a recent visit, including on weekdays, highlighting strong demand during the summer. Non-gaming attractions such as concerts and sporting events are helping to boost visitation and spending.<\/p>\n\n\n\n
For August, it expects GGR is to be up 12 per cent to MOP20.5bn (US$2.55bn), building on four consecutive months of double-digit gains. Analysts noted that for the first 17 days of the month, GGR reached MOP12.1bn (US$1.5bn), averaging MOP712m (US$88.6m) per day.<\/p>\n\n\n\n
JP Morgan goes further, forecasting Augus gross gaming revenue of between MOP21.9bn (US$2.72bn) and MOP22.5bn (US$2.79bn). That could mean it surpasses July\u2019s MOP22.13bn (US$2.75bn) to become the highest total since the pandemic outside of China\u2019s Golden Week holidays.<\/p>\n\n\n\n
Analysts DS Kim, Selina Li, and Lindsey Qian reported that GGR for the first 24 days of August reached MOP17.65bn (US$2.19bn), averaging MOP735m (US$91m) per day. Last week\u2019s run-rate rose 9 per cent to MOP793m (US$98m), the highest non-Golden Week GGR since the pandemic, thanks to strong visitation during peak summer holidays, they noted.<\/p>\n\n\n\n
Both the VIP and mass market segments showed growth of 10 to 15 per cent year-on-year. Compared to 2019, VIP play has recovered to 30 per cent while mass gaming has reached 125 per cent of pre-Covid levels.<\/p>\n\n\n\n
JP Morgan expects the trend to continue, projecting \u201csustained double-digit GGR growth\u201d through at least the first quarter of 2026. Industry observers note the help of major summer events such as the Tencent Music Awards at Galaxy Arena.<\/p>\n\n\n\n
Morgan Stanley said competition among operators remained \u201cfierce\u201d and operating costs are still high, but it believes the industry is entering a period of \u201csuper strong\u201d performance compared with broader consumer trends in China. It expects operating leverage to improve in the months ahead, supporting higher margins.<\/p>\n\n\n
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