Good Morning. ‘Keep holdin’ on to what’s golden’. Macau saw better-than-expected revenues during the Golden Week holiday, with analysts at JP Morgan saying overall GGR reached about 80 percent of pre-pandemic figures. Mass topped out at 120 percent of 2019-levels, while daily revenue rose to over $116 million. Meanwhile, in the Philippines, authorities admit they’re not going after offshore gaming operator suspects as aggressively because they don’t have the means to hold the detainees.
What you need to know
- Macau’s National Day Golden Week GGR soars to 80 percent of 2019 levels, driven by robust mass market performance, surpassing expectations.
- Authorities in the Philippines are not aggressively going after POGO suspects because they lack the resources to hold them.
On the radar
- Bloomberry Resorts increases public ownership percentage.
- MGM China enters Hang Seng’s Corporate Sustainability Index.
- Gaming workers to protest at Caesars and MGM Resorts.
- Macau gained 18,400 non-resident workers since January.
The national holidays in China pushed Golden Week gross gaming revenue to 80 percent of 2019-levels, say analysts at JP Morgan. The figure surpassed expectations, with mass market revenue hitting up to 120 percent of the same period in 2019. Daily revenue likely hit up to $116 million. Meanwhile, the analyst opine that gaming stocks are likely closer to the bottom than to their peaks.
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