Macau’s total gross gaming revenue (GGR) in September should be down by 6 percent from the previous month, reaching about MOP16.1 billion ($1.9 billion), analysts from Morgan Stanley predict.
Morgan Stanley now expects September to see an average daily gaming revenue of MOP537 million ($66.5 million), with the month usually reporting lower results than August.
‘September is normally a weaker month at -9 percent month-on-month on average. Yet, Super Typhoon Saola could result in even weaker GGR,’ analysts Praveen Choudhary and Gareth Leung state.
Macau authorities ordered a nine-hour shutdown of all casinos in the SAR due to Typhoon Saola, between September 1st and 2nd.
‘We think the market will look beyond both August and September GGR and focus on the forward bookings of October Golden Week from October 1st (Sun) to October 7th (Sat)’.
Macau’s casino gross gaming revenue grew by 3.3 percent month-on-month, to MOP17.2 billion ($2.1 billion) in August, the highest monthly volume this year.
August saw a daily average of MOP555 million ($68.7 million) in GGR, which is an improvement over the daily averages of MOP500 million ($61.9 million) in the second quarter of 2023 and MOP537 million ($66.5 million) in July.
This data suggests that mass GGR has rebounded to approximately 93-94 percent of pre-COVID levels, with premium mass seeing a 110 percent recovery, while base mass is at 75-80 percent, according to JP Morgan.