Gaming revenues in Macau dropped 39% over past week on post-holiday lull, said analysts
Tuesday 22 de October 2024 / 12:00
2 minutos de lectura
(Macau).- Gross gaming revenues fell by an estimated 39% to around MOP$514 million (US$64.1 million) per day in the week to 20 October, down from MOP$846 million (US$106 million) per day during the first two weeks of the month according to channel checks by JP Morgan analysts.
The decline was not unexpected however, coming off a high base due to the impact of the National Day Golden Week holiday from 1 to 7 October.
Total GGR for the first 20 days of October combined now sits at MOP$14.6 billion (US$1.82 billion) or MOP$730 million (US$91.1 million) per day – suggesting final October GGR should come in at around MOP$21 billion (US$ 2.62 billion) or MOP$670 million (US$83.6 million) per day to comfortably beat consensus (MOP$20 billion).
In a Monday note, JP Morgan analysts said mass GGR for the month has recovered to between 110% and 115% of the pre-COVID level with VIP at ~25% recovery, tracking ahead of the prior quarter’s recovery rates of 105% to 110% for mass and 23% to 25% for VIP.
“We may not extrapolate this for a full quarter as the figure was boosted by a very strong Golden Week, but it is encouraging to see that the recovery rate is rebounding so far after two quarters of sequential pull-back,” they wrote.
With Las Vegas Sands set to kick off 3Q24 earnings season this Thursday morning local time, JP Morgan said investors will scrutinize the sustainability of the above-seasonal momentum for the rest of the quarter to get a true sense of “demand inflection” for Macau’s gaming operators, particularly in the wake of recent stimulus measures announced by Beijing.
Categoría:Casino
Tags: Sin tags
País: Macao
Región: Asia
Event
ICE Barcelona 2026
19 de January 2026
Merkur Group Shines in Barcelona with Triple ICE Triumph
(Espelkamp/Barcelona).- Merkur Group secures three prestigious international accolades for operational excellence, social commitment, and standout exhibition experience.
Friday 06 Feb 2026 / 12:00
Eduardo Aching: "ICE 2026 was an exceptional event for Konami and its casino partners"
(Barcelona, SoloAzar Exclusive).- Eduardo Aching, Vice President of iGaming & International Gaming Operations at Konami Gaming, reflects on the company’s standout participation at ICE 2026, the strong reception to Solstice 49C and Konami Online Interactive, and the strategic push toward emerging regulated markets and expanded global partnerships.
Friday 06 Feb 2026 / 12:00
Belatra Games Strengthens LatAm Expansion and Innovation Strategy After ICE Barcelona 2026
(Barcelona, SoloAzar Exclusive).- Kateryna Goi, Chief Marketing Officer at Belatra Games, shares her assessment of the company’s participation in ICE Barcelona 2026, the quality of industry engagement at the event, and the strategic priorities shaping Belatra’s growth in 2026, with a strong focus on Latin America and narrative-driven innovation.
Friday 06 Feb 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.