Mass market gross gaming revenue generated in Macau gaming in January is reporting volumes 105-110 percent higher than pre-COVID levels, brokerage JP Morgan indicated.
‘Based on our checks, GGR for the first 21 days of January is estimated at MOP13 billion ($1.6 billion), translating to a robust run-rate of MOP619 million ($76.8 million) per day, vs MOP599 million ($74.3 million) per day in December, which was already a beat,’ the brokerage pointed out.
‘This also implies last week’s daily GGR was MOP628 million ($77.9 million), which actually implies a sequential improvement despite weaker seasonality, almost comparable to the impressive New Year holiday print, some MOP630 million ($78.2 million).’
Analysts from the investment bank described that while GGR usually slows down seasonally for the few weeks ahead of Chinese New Year, scheduled for February 10-17, still expected January to print at least MOP17.5 or MOP18 billion ($2.1-$2.2 billion).
Macau’s gross gaming revenue amounted to MOP18.56 billion ($2.3 billion) in December, reflecting a 15.7 percent increase from November’s MOP16.04 billion ($1.98 billion).
For the whole of 2023, Macau’s casino GGR reached MOP183.05 billion ($22.68 billion), indicating a 333.8 percent surge compared to the same period the previous year.
