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Daily Asia Gaming eBrief: Macau GGR anticipates growth in 4Q24

Good morning. Macau’s gaming sector experienced a slowdown in early December largely due to increased traffic controls before President Xi Jinping’s visit. Despite this dip, the mass market GGR is performing well, at about 105 percent of pre-COVID-19 levels, with analysts anticipating growth of 3-4 percent quarter-on-quarter, and a year-on-year increase of 8.6 percent. At the same time, Macau’s outgoing Chief Executive, Ho Iat Seng, has said that “the city is no longer dominated by the gaming industry” representing 37.2 percent of the city’s GDP. Meanwhile, SJM Resorts is looking to Hengqin to expand its hotel room capacity, having decided to acquire office spaces to be reconverted into a new Lisboa brand hotel.

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AGB Intelligence

MACAU

Macau gaming, satellite casinos regulatory update

Despite the slowdown Macau Q4 GGR should still report growth

Analysts project a positive outlook for the 4Q24 in Macau, anticipating GGR growth of 3-4 percent quarter-on-quarter, and a year-on-year increase of 8.6 percent, though these figures are lower than previous quarters. Macau’s gaming sector experienced a slowdown in early December, with gross gaming revenue (GGR) for the first eight days totaling MOP4.5 billion ($562 million), reflecting a 9 percent decrease from November’s daily rates, largely due to increased traffic controls before President Xi Jinping’s visit.


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AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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