Good Morning. Bring in the masses. Analysts at JP Morgan estimate that Macau’s mass GGR in the first two weeks of the month has already reached up to 95 percent of pre-COVID levels, with hopes to top 100 percent in October. This comes as the city experienced its highest daily visitor arrivals since the pandemic started over the weekend. In Australia, NSW makes good on its promise to usher in cashless gaming, with an independent panel delving into the specifics.
What you need to know
- Macau’s gross gaming revenue remains steady at $69 million daily in mid-August, notes JP Morgan.
- Macau has experienced the highest daily visitor arrivals since the COVID outbreak in 2020, nearly 140,000 visited the city on Saturday.
- Independent Panel on Gaming Reform dials in the cashless trial for pokies in New South Wales.
On the radar
- Taiwan rejects residency renewal for Tak Chun boss Levo Chan.
- Lawrence Ho-linked SPAC merger with VinFast approved.
- DigiPlus sees 51 percent q-o-q profit increase in 2Q23, at $11.6mln.
- NSW authority continues crackdown on illegal gambling ads.
- Singapore liberalizing hiring for housekeepers/porters.
Gross gaming revenue in Macau topped some $894 million in just the first 13 days of August, according to analysts at JP Morgan, boosted by seasonality and more friendly weather conditions. The figures indicate that mass GGR has returned to 90-95 percent of pre-COVID levels, with expectations for a 100 percent recovery by October.
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